-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, C2uNNSTb4e7C3aHZp4knzjlDfMCoFvYdue95hspaHE4mDDt1gUM8wd/X7i3sSoJO RAbcTylOjo8Bj6eKNlvjAw== 0000870517-99-000074.txt : 19991202 0000870517-99-000074.hdr.sgml : 19991202 ACCESSION NUMBER: 0000870517-99-000074 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19991201 ITEM INFORMATION: FILED AS OF DATE: 19991201 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MBNA CORP CENTRAL INDEX KEY: 0000870517 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 521713008 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-10683 FILM NUMBER: 99767307 BUSINESS ADDRESS: STREET 1: 1100 N KING ST STREET 2: C/O MBNA AMERICA BANK NA CITY: WILMINGTON STATE: DE ZIP: 19884 BUSINESS PHONE: 8003626255 MAIL ADDRESS: STREET 1: 1100 NORTH KING STREET CITY: WILMINGTON STATE: DE ZIP: 19884 8-K 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) December 1, 1999 ------------------------- MBNA Corporation -------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Maryland 1-10683 52-1713008 -------------------------------------------------------------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) Wilmington, Delaware 19884 -------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (800) 362-6255 ----------------------- -------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Item 5. Other Events On December 1, 1999, MBNA America Bank, N.A. ("MBNA America"), a wholly owned subsidiary of MBNA Corporation, completed the securitization of $500.0 million of five-year credit card asset backed securities. MBNA America transferred credit card receivables to MBNA Master Credit Card Trust II which issued Series 1999-M. The transaction had two classes of publicly traded securities (Class A and Class B), and a separate, privately placed, collateral interest. Series 1999-M consists of $425.0 million Class A (senior) fixed rate asset backed certificates and $37.5 million Class B (subordinate) fixed rate asset backed certificates. The privately placed collateral interest was issued in the amount of $37.5 million and is subordinate to the Class A and Class B asset backed certificates. The five-year 6.60% Class A certificates were priced at 99.90637% to yield 6.714% or 77 basis points above the five- year Treasury note. The five-year 6.80% Class B certificates were priced at 99.80763% to yield 6.944% or 100 basis points above the five-year Treasury note. MBNA America retained ownership of the credit card accounts which generated the receivables and will act as servicing agent for Series 1999-M. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. MBNA CORPORATION Date: December 1, 1999 By: /s/ M. Scot Kaufman --------------------------- M. Scot Kaufman Executive Vice President and Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----