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Algonquin Credit Card Trust completes $500 million of initial public offering of notes

Date Closed

October 19, 2005

Lead Office



500.00 Million CAD

On October 19, 2005, Algonquin Credit Card Trust completed an initial public offering of C$397.5 million 3.989% Class A Fixed Rate Notes, Series 2005 1, C$50 million 4.449% Class B Fixed Rate Notes, Series 2005 1 and C$52.5 million 4.799% Class C Fixed Rate Notes, Series 2005-1. Algonquin Credit Card Trust is the public vehicle through which Capital One Bank (Canada Branch) securitizes its Canadian credit card receivables. Capital One Bank (Canada Branch) is the seller and the servicer of the credit card receivables acquired by the trust.

McCarthy Tétrault LLP advised Algonquin with a team led by Marc MacMullin.