Advanta Corp. said its wholly-owned subsidiary, Advanta Conduit Receivables, Inc. has priced a $275 million revolving home equity loan securitization. The transaction is expected to close Sept. 28.

The securitization consists of a single class of floating-rate notes backed by revolving home equity loans. Morgan Stanley Dean Witter is the lead underwriter, and Banc of America Securities LLC is the co-manager. The pass-through rate on the notes will be 37 basis points over one-month London interbank offered rate.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.