Advanta Corp. announced Tuesday that it had priced its first revolving home equity loan trust. The $50 million trust will consist of adjustable-rate lines of credit and yield 23 basis points over one-month Libor.

Advanta is one of the nation's largest credit card issuers. In 1995 it began offering home equity loans, said Milt Riseman, president of Advanta Mortage Corporation USA, in a press release. Recently several credit card specialists have begun offering customers home equity loans to help them consolidate their debts.

Lehman Brothers acted as the sole underwriter of the transaction. The certificates are expected to receive bond graders' highest ratings and be insured by MBIA.

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