Golden Credit Card Trust closes US$500 million note offering

Date Closed

February 28, 2013

Lead Office

Toronto

Value

500.00 Million USD

On February 28, 2013, Golden Credit Card Trust, a Canadian special purpose issuer, closed its offering of U.S.$500 million aggregate principal amount of Credit Card Receivables Backed Senior Notes.  The notes were issued in a floating rate series (Series 2013-1) with U.S.$500 million aggregate principal amount of Credit Card Receivables Backed Senior Notes.  The offering of the notes was made in the United States pursuant to Rule 144A under the U.S. Securities Act of 1933. The Lead Bookrunner for the senior notes was RBC Capital Markets, LLC.  The notes are backed by a related co-ownership interest in a pool of Canadian credit card receivables originated by Royal Bank of Canada.  Golden Credit Card Trust purchased such co-ownership interest from Royal Bank of Canada with the proceeds of the issuance of the notes, and Royal Bank of Canada is the servicer of the pool of credit card receivables.

Golden Credit Card Trust, headquarterd in Toronto, is a special purpose vehicle for the purpose of acquiring a legal interest in and administering a revolving pool of credit card receivables and related assets.

RBC Capital Markets, headquartered in Toronto, is a premier investment bank that provides a focused set of products and services to corporations, instituional investors and governments around the world

McCarthy Tétrault LLP represented Golden Credit Card Trust, as issuer, and Royal Bank of Canada, as seller, with a team led by Marc MacMullin.

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