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MBNA unveils new de-linked structure a la U.S., but with European flair

As part of a larger trend, MBNA Europe is building an international counterpart to its de-linked issuance program, importing the structure from the U.S. to the shores of Europe. The bank recently established a European-based vehicle.

While MBNA has issued euro-denominated de-linked notes in the past, these have been...

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