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Alliance Data completes $1.5 billion in conduit liquidity facilities
By Sara Rosenberg
New York, June 28 - Alliance Data Systems Corp. closed on $1.5 billion in conduit liquidity facilities, according to a news release.
Specifically, the company's private label credit card banking subsidiary, World Financial Network National Bank, completed the renewal of its $1.2 billion conduit facility, and the company also renewed a $275 million conduit facility for its Utah industrial bank subsidiary, World Financial Capital Bank.
Bank of America, Barclays Bank, JPMorgan, Royal Bank of Canada, the Royal Bank of Scotland and Wells Fargo Securities committed to the facilities.
The facilities fund both existing and new private label credit card programs.
The company said that the facilities only finance less than $750 million in card assets, providing a large source of untapped liquidity to fund growth and/or portfolio acquisitions.
Alliance Data is a Dallas-based provider of loyalty and marketing services.
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