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Securitizes $1.05 Billion of Credit Card Receivables
WILMINGTON, Del., September 12, 2003 -- MBNA Corporation (KRB) and its wholly owned subsidiary, MBNA America Bank, N.A. announced today that, through the MBNA Credit Card Master Note Trust it will issue $1.05 billion in credit card asset backed notes.
The Class A (2003-9) tranche consists of $1.05 billion floating rate asset backed notes. The five-year Class A (2003-9) notes were priced at par and will accrue interest at 13 basis points over the one-month London Interbank Offered Rate ("LIBOR").
The transaction, which is scheduled to close on September 24, 2003, was joint-lead managed by Banc of America Securities LLC and Lehman Brothers and co-managed by Banc One Capital Markets, Inc., Barclays Capital, Citigroup, Merrill Lynch & Co. and Morgan Stanley.
MBNA Corporation, a bank holding company and parent of MBNA America Bank, N.A., a national bank, is the largest independent credit card lender in the world. MBNA also provides retail deposit, consumer loan, and insurance products. MBNA.com provides credit card, consumer loan, retail deposit, travel and shopping services.
Signs Multi-Year Agreement with Vesdia Corp
ATLANTA and WILMINGTON,
Del., August 27, 2003 -- Vesdia Corporation, the nation's leading
microinvesting technology company, announced today that it has signed
a definitive multi-year agreement with MBNA America Bank, N.A., the
world's largest independent credit card issuer. Under the terms of
the agreement Vesdia will provide its patent-protected microinvesting
platform and loyalty program management services to MBNA. Terms of
the contract were not disclosed.
Vesdia's microinvesting platform enables individual investors to receive
up to a 20% rebate on every-day purchases made through the company's network
of more than 500 retailers and 127,000 grocery stores including, Gap, Barnes &
Noble, Dell, Blockbuster, and others. Vesdia's technology tracks the
transaction from the point of purchase and deposits merchant rebates into the
cardholder's designated investment vehicle. In addition, Vesdia's technology
also serves as the "savings engine" behind its own award-winning college
savings program, BabyMint, as well as its recently launched retirement savings
program called NestEggz. According to Financial Research Corporation,
merchant and credit card rebates, such as those facilitated by the Vesdia
technology platform, have the potential to represent an incremental $1.1
billion per year in assets to banks and investment management firms.
About Vesdia Corporation
Headquartered in Atlanta, Vesdia is the nation's leading microinvesting
technology company. Through its nationwide network of retailers and name
brands, Vesdia's patent-protected technology enables individual investors to
save towards major life events without incurring out-of-pocket expenses. In
addition to serving as the "savings engine" behind its own award-winning
savings programs, BabyMint and NestEggz, the company's proprietary technology
is also licensed by financial institutions, retailers, and credit card issuers
to facilitate customer loyalty.
About MBNA America Bank, N.A.
MBNA Corporation (NYSE:KRB), bank holding company and parent of MBNA
America Bank, N.A., a national bank, is the largest independent credit card
lender in the world. MBNA also provides retail deposit, consumer loan, and
insurance products. MBNA.com provides credit card,
consumer loan, retail deposit, travel and shopping services.
Announces Sale and Repurchase of Common Stock WILMINGTON, Del., August 15, 2003 -- MBNA announced today the sale of 50 million shares of newly issued common stock to Goldman, Sachs & Co. and Bear, Stearns & Co. Inc., who are re-offering the shares to investors. The shares were issued under the corporation's existing shelf registration statement in connection with the repurchase of the same number of shares on the same terms from the estate of the late Alfred Lerner, MBNA's former Chairman and Chief Executive Officer. The repurchase transaction was initiated at the request of the Lerner estate. "MBNA is a terrific company to be involved with and also is an excellent investment for our family," said Randolph D. Lerner, Chairman of MBNA Corporation. "After this sale we will own 86 million shares of MBNA common stock and do not plan on selling any of these shares. Our commitment to MBNA remains very strong." After the sale and repurchase there will be approximately 1.28 billion shares of MBNA common stock outstanding, the same number as before the sale and repurchase. MBNA's capital levels are not impacted by these transactions. MBNA has entered into a customary underwriting agreement in regards to the transaction. MBNA Corporation (NYSE:KRB), a bank holding company and parent of MBNA America Bank, N.A., a national bank, is the largest independent credit card lender in the world. MBNA also provides retail deposit, consumer loan, and insurance products. MBNA.com ( www.MBNA.com ) provides credit card, consumer loan, retail deposit, travel, and shopping services. Securitizes
$200 Million of Credit Card Receivables
WILMINGTON, Del., August 4, 2003 -- MBNA Corporation (NYSE:KRB) and its wholly owned subsidiary, MBNA America Bank, N.A. announced today that, through the MBNA Credit Card Master Note Trust, it will issue $200 million in credit card asset backed notes. The Class B (2003-3) tranche consists of $200 million floating rate asset backed notes. The five-year Class B (2003-3) notes were priced at par and will accrue interest at 37.5 basis points over the one-month London Interbank Offered Rate ("LIBOR"). The transaction, which is scheduled to close on August 20, 2003, was lead managed by Lehman Brothers and co-managed by Deutsche Bank Securities, JPMorgan and Merrill Lynch & Co. MBNA Corporation,
a bank holding company and parent of MBNA America Bank, N.A., a
national bank, is the largest independent credit card lender in
the world. MBNA also provides retail deposit, consumer loan, and
insurance products. MBNA.com (www.MBNA.com
Announces Preferred Stock Dividends
WILMINGTON, Del.,
July 24, 2003 -- MBNA Corporation (NYSE:KRB) announced today a quarterly
dividend of $.46875 per share on the 7-1/2% Cumulative Preferred Stock,
Series A, a quarterly dividend of $.3438 per share on the Adjustable
Rate Cumulative Preferred Stock, Series B, and a quarterly dividend
of $.515625 on the 8-1/4% MBNA Capital C Trust Originated Preferred
Securities. All preferred stock dividends are payable October 15,
2003 to stockholders of record as of September 30, 2003.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, is the largest independent credit card
lender in the world. MBNA also provides retail deposit, consumer
loan, and insurance products. MBNA.com provides credit card, consumer
loan, retail deposit, travel, and shopping services.
Securitizes $750 Million of Credit Card Receivables
WILMINGTON, Del.,
July 24, 2003 -- MBNA Corporation (NYSE:KRB) and its wholly owned
subsidiary, MBNA America Bank, N.A. announced today that, through
the MBNA Credit Card Master Note Trust, it will issue $750 million
in credit card asset backed notes.
The Class A (2003-8) tranche consists of $750 million floating
rate asset backed notes. The seven-year Class A (2003-8) notes were
priced at par and will accrue interest at 19 basis points over the
one-month London Interbank Offered Rate ("LIBOR").
The transaction, which is scheduled to close on August 5, 2003,
was joint-lead managed by Credit Suisse First Boston and Morgan
Stanley and co-managed by Banc of America Securities LLC, Barclays
Capital, Citigroup, and Lehman Brothers.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, is the largest independent credit card
lender in the world. MBNA also provides retail deposit, consumer
loan, and insurance products. MBNA.com provides credit card, consumer
loan, retail deposit, travel and shopping services.
Announces Earnings Per Common Share Increase for Second Quarter
WILMINGTON, Del.,
July 24, 2003 -- MBNA Corporation (NYSE:KRB) announced today that
net income for the second quarter of 2003 rose to $543.3 million or
$.42 per common share, an increase of 20%, compared with $457.8 million
or $.35 per common share for the second quarter of 2002. For the first
six months of this year, net income rose to $975.9 million or $.75
per common share, compared with $827.8 million or $.63 per common
share for the first half of 2002.
MBNA has increased its common stock dividend an average of 13.5%
in January of every year since it became a public company in 1991.
In addition to the 14.3% increase earlier this year, MBNA's Board
of Directors has approved an additional mid-year increase of 25%
in the quarterly dividend to $.10 per common share from $.08 per
common share. The dividend is payable October 1, 2003, to stockholders
of record as of September 15, 2003. The Board expects to approve
a regular dividend increase in January 2004.
Loan receivables at June 30, 2003, were $29.3 billion, an increase
of $4.9 billion over the second quarter of 2002. Total managed loans
at June 30, 2003, were $110.5 billion, an increase of $10.5 billion
or 11% over the second quarter of 2002.
During the first six months of 2003, the Corporation added 5.3
million new accounts, with 3.0 million new accounts added in the
quarter. The characteristics of new cardholders are consistent with
the superior quality of the Corporation's existing cardholders.
In the United States, the typical new cardholder has more than a
$70,000 annual household income, has been employed for more than
11 years, owns a home, and has an 18-year history of paying bills
promptly. The company acquired 205 new endorsements from organizations
and renewed more than 550 group contracts during the first six months
of 2003.
Loan losses on loan receivables and managed loans for the second
quarter of 2003 were 4.91% and 5.35%, respectively. After a typical
seasonal increase in loss rates in January, net credit loss rates
have declined from January levels. Although there may be minor monthly
fluctuations, management expects the declining trend in managed
net credit loss rates to continue throughout the year. Loan losses
continue to be lower than published industry levels. Delinquency
on the loan receivables and managed loans was 3.71% and 4.46%, respectively,
at June 30, 2003.
Securitizes
$250 Million of Credit Card Receivables
WILMINGTON, Del.,
July 16, 2003 -- MBNA Corporation (NYSE:KRB) and its wholly owned
subsidiary, MBNA America Bank, N.A. announced today that, through
the MBNA Credit Card Master Note Trust it will issue $250 million
in credit card asset backed notes.
The Class C (2003-6) tranche consists of $250 million floating
rate asset backed notes. The five-year Class C (2003-6) notes were
priced at par and will accrue interest at 118 basis points over
the one-month London Interbank Offered Rate ("LIBOR").
The transaction, which is scheduled to close on July 30, 2003,
was joint- lead managed by Deutsche Bank Securities and Lehman Brothers
and co-managed by Banc of America Securities LLC, Banc One Capital
Markets, Inc., and Barclays Capital.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, is the largest independent credit card
lender in the world. MBNA also provides retail deposit, consumer
loan, and insurance products. MBNA.com provides credit card, consumer
loan, retail deposit, travel and shopping services.
Announces
Release Date for Second Quarter 2003 Earnings
WILMINGTON, Del.,
Jul 1, 2003 -- MBNA Corporation (KRB) announced today that it will
release second quarter 2003 earnings results on July 24, 2003.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, is the largest independent credit card
lender in the world. MBNA also provides retail deposit, consumer
loan, and insurance products. MBNA.com provides credit card, consumer
loan, retail deposit, travel, and shopping services.
Securitizes
$650 Million of Credit Card Receivables
WILMINGTON, Del.,
June 24, 2003 -- MBNA Corporation and its wholly owned subsidiary,
MBNA America Bank, N.A., announced today that the MBNA Credit Card
Master Note Trust will issue $650 million in credit card asset backed
notes.
The Class A (2003-7) tranche consists of $650 million fixed rate
asset backed notes. The five-year 2.65% Class A (2003-7) notes were
priced at 99.97101% to yield 2.671%.
The transaction, which is scheduled to close on July 8, 2003, was
joint-lead managed by Banc of America Securities LLC and Credit
Suisse First Boston and co-managed by Banc One Capital Markets,
Inc., Barclays Capital, Citigroup, Lehman Brothers, and Morgan Stanley.
MBNA Corporation (NYSE:KRB), a bank holding company and parent
of MBNA America Bank, N.A., a national bank, is the largest independent
credit card lender in the world. MBNA also provides retail deposit,
consumer loan, and insurance products. MBNA.com provides credit
card, consumer loan, retail deposit, travel and shopping services.
Securitizes
$100 Million of Credit Card Receivables
WILMINGTON, Del.,
June 19, 2003 -- MBNA Corporation and its wholly owned subsidiary,
MBNA America Bank, N.A. announced today that, through the MBNA Credit
Card Master Note Trust it will issue $100 million in credit card asset
backed notes.
The Class C (2003-5) tranche consists of $100 million floating
rate asset backed notes. The five-year Class C (2003-5) notes were
priced at par and will accrue interest at 118 basis points over
the one-month London Interbank Offered Rate ("LIBOR").
The transaction, which is scheduled to close on July 2, 2003, was
lead managed by JPMorgan and co-managed by Lehman Brothers.
MBNA Corporation (NYSE:KRB), a bank holding company and parent
of MBNA America Bank, N.A., a national bank, is the largest independent
credit card lender in the world. MBNA also provides retail deposit,
consumer loan, and insurance products. MBNA.com provides credit
card, consumer loan, retail deposit, travel and shopping services.
Securitizes
$500 Million of Credit Card Receivables
WILMINGTON, Del.,
May 28, 2003 -- MBNA Corporation (NYSE:KRB) and its wholly owned subsidiary,
MBNA America Bank, N.A., announced today that, through the MBNA Credit
Card Master Note Trust, it will issue $500 million in credit card
asset backed notes.
The Class A (2003-6) tranche consists of $500 million fixed rate
asset backed notes. The five-year 2.75% Class A (2003-6) notes were
priced at 99.85292% to yield 2.798%.
The transaction, which is scheduled to close on June 4, 2003, was
lead managed by Lehman Brothers and co-managed by Banc of America
Securities LLC, Banc One Capital Markets, Inc., Barclays Capital,
Credit Suisse First Boston and JPMorgan.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, is the largest independent credit card
lender in the world. MBNA also provides retail deposit, consumer
loan, and insurance products. MBNA provides credit card, consumer
loan, retail deposit, travel and shopping services.
Securitizes
$175 Million of Credit Card Receivables
WILMINGTON, Del.,
May 2, 2003 -- MBNA Corporation (NYSE: KRB) and its wholly owned subsidiary,
MBNA America Bank, N.A. announced today that through the MBNA Credit
Card Master Note Trust it will issue $175 million in credit card asset
backed notes.
The Class C (2003-3) tranche consists of $175 million floating
rate asset backed notes. The five-year Class C (2003-3) notes were
priced at par and will accrue interest at 135 basis points over
the one-month London Interbank Offered Rate ("LIBOR").
The transaction, which is scheduled to close on May 8, 2003, was
joint lead managed by Deutsche Bank Securities and Merrill Lynch
& Co.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, is the largest independent credit card
lender in the world. MBNA also provides retail deposit, consumer
loan, and insurance products. MBNA.com provides credit card, consumer
loan, retail deposit, travel and shopping services.
Announces Quarterly Common Stock Dividend
WILMINGTON, Del.,
April 23, 2003 -- MBNA's Board of Directors declared a quarterly cash
dividend of $.08 per common share, payable July 1, 2003 to stockholders
of record as of June 13, 2003.
MBNA Corporation (NYSE: KRB), a bank holding company and parent
of MBNA America Bank, N.A., a national bank, is the largest independent
credit card lender in the world. MBNA also provides retail deposit,
consumer loan, and insurance products. MBNA.com provides credit
card, consumer loan, retail deposit, travel, and shopping services.
Reports 18% Increase in Earnings Per Common Share
WILMINGTON, Del.,
April 23, 2003 -- MBNA Corporation (NYSE: KRB) announced today that
net income for the first quarter of 2003 rose to $432.5 million or
$.33 per common share, an increase of 18%, compared with $369.9 million
or $.28 per common share for the first quarter of 2002.
Loan receivables at March 31, 2003 were $27.4 billion, an increase
of $4.6 billion over the first quarter of 2002. Total managed loans
at March 31, 2003 were $106.1 billion, an increase of $10.8 billion
or 11% over the first quarter of 2002. Retail sales and cash advance
volume increased 17% over the first quarter of 2002.
The Corporation added 2.3 million new accounts during the quarter.
The characteristics of new cardholders are consistent with the superior
quality of the Corporation's existing cardholders. In the United
States, the typical new cardholder has more than a $70,000 annual
household income, has been employed for more than 11 years, owns
a home, and has an 18-year history of paying bills promptly. The
company acquired 80 new endorsements from organizations and renewed
232 group contracts during the quarter.
Loan losses on loan receivables and managed loans for the first
quarter of 2003 were 5.12% and 5.47%, respectively. After a typical
seasonal increase in loss rates in January, net credit loss rates
and managed net credit loss rates declined sequentially in both
February and March from the prior month. Although there may be minor
monthly fluctuations, management expects the declining trend in
managed net credit loss rates to continue throughout the year. Loan
losses continue to be lower than published industry levels. Delinquency
on the loan receivables and managed loans was 3.88% and 4.74%, respectively,
at March 31, 2003.
This earnings release includes managed data. Please refer to MBNA
Corporation and Subsidiaries Financial Highlights - Exhibit A for
a quantitative reconciliation of reported and managed data. A business
presentation that provides supplemental information regarding the
first quarter of 2003 is available in the Investor Relations section
of MBNA's Web site.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, is the largest independent credit card
lender in the world. MBNA also provides retail deposit, consumer
loan, and insurance products. provides credit card, consumer loan,
retail deposit, travel, and shopping services.
Securitizes $750 Million of Credit Card Receivables
WILMINGTON, Del.,
April 17, 2003 -- MBNA Corporation (NYSE: KRB) and its wholly owned
subsidiary, MBNA America Bank, N.A. announced today that through the
MBNA Credit Card Master Note Trust it will issue $750 million in credit
card asset backed notes.
The Class A (2003-4) tranche consists of $750 million floating
rate asset backed notes. The seven-year Class A (2003-4) notes were
priced at par and will accrue interest at 22 basis points over the
one-month London Interbank Offered Rate ("LIBOR").
The transaction, which is scheduled to close on April 24, 2003,
was joint lead managed by Banc of America Securities LLC and Merrill
Lynch & Co and co- managed by Deutsche Bank Securities, JPMorgan
and Morgan Stanley.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, is the largest independent credit card
lender in the world. MBNA also provides retail deposit, consumer
loan, and insurance products. MBNA.com (www.MBNA.com) provides credit
card, consumer loan, retail deposit, travel and shopping services.
Securitizes
$1.0 Billion of Credit Card Receivables
WILMINGTON, Del.,
March 12, 2003 -- MBNA Corporation (NYSE:KRB) and its wholly owned
subsidiary, MBNA America Bank, N.A., announced today that through
the MBNA Credit Card Master Note Trust it will issue $1.0 billion
in credit card asset backed notes.
The Class A (2003-2) tranche consists of $1.0 billion floating
rate asset backed notes. The three-year Class A (2003-2) notes were
priced at par and will accrue interest at 5 basis points over the
one-month London Interbank Offered Rate ("LIBOR").
The transaction, which is scheduled to close on March 26, 2003,
was joint lead managed by JPMorgan and Banc of America Securities
LLC and co-managed by Banc One Capital Markets, Inc., Credit Suisse
First Boston, Deutsche Bank Securities, Merrill Lynch & Co. and
Morgan Stanley.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, has $107.3 billion in managed loans.
MBNA, the largest independent credit card lender in the world, also
provides retail deposit, consumer loan, and insurance products.
MBNA.com (www.MBNA.com) provides credit card, consumer loan, retail
deposit, travel and shopping services.
Securitizes
$500 Million of Credit Card Receivables
WILMINGTON, Del.,
February 20, 2003 -- MBNA Corporation (NYSE:KRB) and its wholly owned
subsidiary, MBNA America Bank, N.A. announced today that through the
MBNA Credit Card Master Note Trust it will issue $500 million in credit
card asset backed notes.
The Class A (2003-1) tranche consists of $500 million fixed rate
asset backed notes. The five-year 3.30% Class A (2003-1) notes were
priced at 99.949% to yield 3.334%.
The transaction, which is scheduled to close on February 27, 2003,
was lead managed by Barclays Capital and co-managed by Banc of America
Securities LLC, Banc One Capital Markets, Inc., Credit Suisse First
Boston, Lehman Brothers and Morgan Stanley.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, has $107.3 billion in managed loans.
MBNA, the largest independent credit card lender in the world, also
provides retail deposit, consumer loan, and insurance products.
MBNA.com (www.MBNA.com) provides credit card, consumer loan, retail
deposit, travel and shopping services.
Securitizes
$200 Million of Credit Card Receivables
WILMINGTON, Del.,
February 13, 2003 -- MBNA Corporation and its wholly owned subsidiary,
MBNA America Bank, N.A. announced today that through the MBNA Credit
Card Master Note Trust it will issue $200 million in credit card asset
backed notes.
The Class B (2003-1) tranche consists of $200 million floating
rate asset backed notes. The five-year Class B (2003-1) notes were
priced at par and will accrue interest at 44 basis points over the
one-month London Interbank Offered Rate ("LIBOR").
The transaction, which is scheduled to close on February 20, 2003,
was lead managed by Deutsche Bank Securities and co-managed by Banc
of America Securities LLC, Lehman Brothers and Merrill Lynch & Co.
MBNA Corporation (NYSE:KRB), a bank holding company and parent
of MBNA America Bank, N.A., a national bank, has $107.3 billion
in managed loans. MBNA, the largest independent credit card lender
in the world, also provides retail deposit, consumer loan, and insurance
products. MBNA.com (www.MBNA.com) provides credit card, consumer
loan, retail deposit, travel and shopping services.
Securitizes
$100 Million of Credit Card Receivables
WILMINGTON, Del., January 30, 2003 -- MBNA Corporation (NYSE: KRB)
and its wholly owned subsidiary, MBNA America Bank, N.A. announced
today that through the MBNA Credit Card Master Note Trust it will
issue $100 million in credit card asset backed notes.
The Class C (2003-2) tranche consists of $100 million floating
rate asset backed notes. The five-year Class C (2003-2) notes were
priced at par and will accrue interest at 160 basis points over
the one-month London Interbank Offered Rate ("LIBOR").
The transaction, which is scheduled to close on February 12, 2003,
was lead managed by JPMorgan and co-managed by Deutsche Bank Securities
and Lehman Brothers.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, has $107.3 billion in managed loans.
MBNA, the largest independent credit card lender in the world, also
provides retail deposit, consumer loan, and insurance products.
MBNA.com provides credit card, consumer loan, retail deposit, travel
and shopping services.
Reports Record Net Income for the Fourth Quarter
WILMINGTON, Del., January 23, 2003 -- MBNA Corporation (NYSE:KRB)
announced today that net income for the fourth quarter of 2002 rose
to $540.2 million or $.41 per common share. During the fourth quarter,
MBNA increased its reserve coverage for the consumer lending products
in its portfolio. Consumer lending loan losses are somewhat higher
than credit card losses; however, the business continues to be attractively
profitable. For the full year, net income including a one-time charge
for implementation of FFIEC guidance during the third quarter of
2002 rose to $1.77 billion or $1.34 per common share, compared with
$1.69 billion or $1.28 per common share for 2001. Excluding the
one-time charge, net income rose to $1.93 billion or $1.47 per common
share, an increase of 14.8% over 2001.
In addition, MBNA's Board of Directors has approved an increase
of 14.3% in the quarterly dividend rate to $.08 per common share,
which will increase the annual rate to $.32. MBNA has increased
the dividend every year since it became a public company. The cash
dividend is payable April 1, 2003 to stockholders of record as of
March 15, 2003.
Loan receivables and total managed loans at December 31, 2002
were $28.7 billion and $107.3 billion, respectively. Managed loans
increased $9.8 billion for the full year, an increase of 10.0%.
For the year, the Corporation added 14.2 million new Customers (12.0
million new accounts). The characteristics of new cardholders are
consistent with the superior characteristics of the Corporation's
existing cardholders. The company acquired 405 new endorsements
from organizations and renewed more than 1,100 group contracts during
the year.
Loan losses on loan receivables and managed loans for the full
year were 4.57% and 4.99%, respectively. Loan losses continue to
be lower than published industry levels. Delinquency on the loan
portfolio and managed loans was 4.28% and 4.88%, respectively, at
December 31, 2002.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, has $107.3 billion in managed loans.
MBNA, the largest independent credit card lender in the world, also
provides retail deposit, consumer loan, and insurance products.
MBNA.com (www.MBNA.com) provides credit card, consumer loan, retail
deposit, travel, and shopping services.
Announces Preferred Stock Dividends
WILMINGTON, Del., January 23, 2003 -- MBNA Corporation (NYSE:KRB)
announced today a quarterly dividend of $.46875 per share on the
7-1/2% Cumulative Preferred Stock, Series A, a quarterly dividend
of $.3438 per share on the Adjustable Rate Cumulative Preferred
Stock, Series B, and a quarterly dividend of $.515625 on the 8-1/4%
MBNA Capital C Trust Originated Preferred Securities. All preferred
stock dividends are payable April 15, 2003 to stockholders of record
as of March 31, 2003.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, has $107.3 billion in managed loans.
MBNA, the largest independent credit card lender in the world, also
provides retail deposit, consumer loan, and insurance products.
MBNA.com (www.MBNA.com) provides credit card, consumer loan, retail
deposit, travel, and shopping services.
Securitizes $200 Million of Credit Card Receivables
WILMINGTON, Del., January 16, 2003 -- MBNA Corporation (NYSE:KRB)
and its wholly owned subsidiary, MBNA America Bank, N.A., announced
today that through the MBNA Credit Card Master Note Trust it will
issue $200 million in credit card asset backed notes.
The Class C (2003-1) tranche consists of $200 million floating
rate asset backed notes. The seven-year Class C (2003-1) notes were
priced at par and will accrue interest at 170 basis points over
the one-month London Interbank Offered Rate ("LIBOR").
The transaction, which is scheduled to close on February 4, 2003,
was lead managed by Lehman Brothers and co-managed by Banc of America
Securities LLC, Deutsche Bank Securities, JPMorgan and Merrill Lynch
& Co.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, had $102.8 billion in managed loans
as of September 30, 2002. MBNA, the largest independent credit card
lender in the world, also provides retail deposit, consumer loan,
and insurance products. MBNA.com (www.MBNA.com) provides credit
card, consumer loan, retail deposit, travel and shopping services.
Announces Fourth Quarter 2002 Earnings Release Date
WILMINGTON, Del., January 2, 2003 -- MBNA Corporation (NYSE:KRB)
announced today that it will release fourth quarter and full year
2002 earnings results on January 23, 2003.
MBNA Corporation, a bank holding company and parent of MBNA America
Bank, N.A., a national bank, has $102.8 billion in managed loans
as of September 30, 2002. MBNA, the largest independent credit card
lender in the world, also provides retail deposit, consumer loan,
and insurance products. MBNA.com (www.MBNA.com) provides credit
card, consumer loan, retail deposit, travel, and shopping services.
Securitizes $500 Million of Credit Card Receivables
WILMINGTON, Del., December 4, 2002 -- MBNA Corporation (NYSE:KRB) and its wholly owned subsidiary, MBNA America Bank, N.A. announced today that through the MBNA Credit Card Master Note Trust it will issue $500 million in credit card asset backed notes. The Class A (2002-13) tranche consists of $500 million floating rate asset backed notes. The five-year Class A (2002-13) notes were priced at par and will accrue interest at 13 basis points over the one-month London Interbank Offered Rate ("LIBOR"). The transaction, which is scheduled to close on December 18, 2002, was lead managed by Deutsche Bank Securities and co-managed by Banc of America Securities LLC, Banc One Capital Markets, Inc., Credit Suisse First Boston, JPMorgan and Salomon Smith Barney. MBNA Corporation, a bank holding company and parent of MBNA America Bank, N.A., a national bank, has $102.8 billion in managed loans. MBNA, the largest independent credit card lender in the world, also provides retail deposit, consumer loan, and insurance products. MBNA.com (www.MBNA.com) provides credit card, consumer loan, retail deposit, travel and shopping services.
Securitizes $1.5 Billion of Credit Card Receivables
WILMINGTON, Del., November 6, 2002 -- MBNA Corporation (NYSE:KRB) and its wholly owned subsidiary, MBNA America Bank, N.A. announced today that through the MBNA Credit Card Master Note Trust it will issue $1.5 billion in credit card asset backed notes. The Class A (2002-12) tranche consists of $1.5 billion floating rate asset backed notes. The three-year Class A (2002-12) notes were priced at par and will accrue interest at 6 basis points over the one-month London Interbank Offered Rate ("LIBOR"). The transaction, which is scheduled to close on November 19, 2002, was joint lead managed by Banc of America Securities LLC and Lehman Brothers and co-managed by Banc One Capital Markets, Inc., Barclays Capital, Credit Suisse First Boston, Deutsche Bank Securities, JPMorgan and Merrill Lynch & Co. MBNA Corporation, a bank holding company and parent of MBNA America Bank, N.A., a national bank, has $102.8 billion in managed loans. MBNA, the largest independent credit card lender in the world, also provides retail deposit, consumer loan, and insurance products. MBNA.com (www.MBNA.com) provides credit card, consumer loan, retail deposit, travel and shopping services.
WILMINGTON, Del., November 5, 2002 -- The Board of Directors of MBNA Corporation (NYSE:KRB), at a special meeting on Friday, November 1, 2002, appointed Randolph D. Lerner chairman, Norma Lerner a director, and Charlie Cawley chief executive officer of MBNA Corporation. The recommendations concerning Mrs. Lerner and Mr. Lerner were made to the board by Mr. Cawley with the support of the entire MBNA management committee. Mr. Lerner, 40, has been a director of the Corporation and its principal subsidiary, MBNA America Bank, since April 1993. Lerner is chairman of MBNA's Finance and Loan Committee. He has been in the investment business since September 1991. He serves as chairman of the board of trustees of the New York Academy of Art and as a member of the board of trustees of the Hospital for Special Surgery in New York City. Lerner is a graduate of Columbia University's Columbia College and School of Law. He is also a member of the New York State and the District of Columbia Bars. He began his career at Bear Stearns. Mrs. Lerner, the widow of Al Lerner, is a well-known civic volunteer and philanthropist in the Cleveland community. She serves as a member of the board of trustees of University Hospitals of Cleveland, the University Hospitals of Cleveland Health System and the Musical Arts Association in Cleveland. Known for their philanthropy, Al and Norma Lerner helped create the Lerner Research Institute at the Cleveland Clinic with a gift of $16 million. In June, the Lerners increased their support by donating an additional $100 million to the clinic. Mrs. Lerner currently serves on the MBNA Foundation Grants Committee. She received an honorary degree from Cleveland State University in May 2001 to recognize her commitment to community service. Mr. Cawley, 62, president, will serve as chief executive officer (CEO) of MBNA Corporation. He has been president of MBNA for 17 years and was the founder of the original company in 1982. The Corporation's newly established Executive Committee will be made up of Mr. Cawley, Mr. Lerner, Mr. Bruce L. Hammonds, chairman and chief executive officer of MBNA America Bank, and Mr. John R. Cochran, president of MBNA America Bank. Cawley, Hammonds, and Cochran have been the senior operating executives of MBNA since its founding. MBNA Corporation, a bank holding company and parent of MBNA America Bank, N.A., a national bank, has $102.8 billion in managed loans. MBNA, the largest independent credit card lender in the world, also provides retail deposit, consumer loan, and insurance products. MBNA.com (http://www.MBNA.com) provides credit card, consumer loan, retail deposit, travel, and shopping services.
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