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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Perspective who wrote (201876)	5/12/2009 2:52:44 PM
From: RockyBalboa	Respond to of 306849

Company goes into runoff and tries to buy out its creditors at a bargain price. Otherwise it would go into bankruptcy. It ceases to exist as a credit card company. >>>>>>>>>>>>>> Advanta Bank Corp. will use up to $1.4 billion to make a cash tender offer for Advanta Business Card Master Trust Class A senior notes at a price between 65% and 75% of their face value Advanta Corp. will make a cash tender offer for any or all of the $100 million of 8.99% Capital Securities issued by Advanta Capital Trust I at 20% of their face value The Company previously disclosed that it expected to use tools at its disposal to avoid early amortization of the securitization trust unless it concluded there was a better plan to maximize its capital and liquidity. The Company has now concluded that the plan outlined here is that better plan. <<<<<<<<<<<<<<<< Message 25584433