Canadian Tire Bank completes C$500M securitization public offering of asset-backed senior notes

On August 23, 2023, Canadian Tire Bank completed a Credit Card Securitization Public Offering of C$467,500,000 principal amount of 5.681% Credit Card Asset- Backed Senior Notes, Series 2023-1 and C$32,500,000 principal amount of 6.881% of Credit Card Asset-Backed Subordinated Notes Issued By Glacier Credit Card Trust.

McCarthy Tétrault assisted Canadian Tire Bank with a team led by Michael McConnell that included Olivia Trojko, Rebecca Ferguson, Mary-Jeanne Phelan, Sharon Kretchmar, Angela Lizotte, Anne-Marie McDonald and Charm Hu (Business) and Jeff Oldewening and Kathryn Walker (Tax).