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Glacier Credit Card Trust closes $365 million public securitization

Date Closed

November 30, 2005

Lead Office



365.00 Million CAD

On November 30, 2005, Glacier Credit Card Trust, as issuer, Canadian Tire Bank, as seller, and an underwriting syndicate, which included BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., National Bank Financial Inc. and TD Securities Inc., closed a C$365 million public securitization. The notes issued by the trust were backed by a pool of credit card receivables originated by or assigned to Canadian Tire Bank, a direct wholly-owned subsidiary of Canadian Tire Financial Services Limited and an indirect, wholly-owned subsidiary of Canadian Tire Corporation, Limited.

McCarthy Tétrault LLP represented Glacier Credit Card Trust and Canadian Tire Bank, with a team led by Marc MacMullin.