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<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">UNITED STATES </FONT></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">SECURITIES AND EXCHANGE COMMISSION</FONT> </DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">Washington, D.C. 20549</FONT> </DIV>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times Roman">FORM 8-K</FONT> </DIV>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">CURRENT REPORT</FONT> </DIV>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">Pursuant to Section 13 or 15(d) of the </FONT></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">Securities Exchange Act of 1934</FONT> </DIV>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">November 6, 2003</FONT> </DIV></TD></TR>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times Roman">MBNA Corporation</FONT> </DIV></TD></TR>
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<FONT size=2>(exact name of registrant as specified in its charter)</FONT></DIV></TD></TR></TABLE></DIV>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">1-10683</FONT> </DIV></TD>
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<DIV align=center><FONT size=2>(Commission File Number)</FONT></DIV></TD>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">Identification No.)</FONT></DIV></TD></TR></TABLE>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">Wilmington, Delaware</FONT> </DIV></TD>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">19884-0131</FONT> </DIV></TD></TR>
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<FONT size=2>(Zip Code)</FONT></DIV></TD></TR></TABLE>
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<FONT size=3>&nbsp;</FONT>(Former name or former address, if changed since last report)</FONT></DIV></TD></TR></TABLE>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">Item 5. Other Events</FONT> </DIV>
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<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">On November 6, 2003, MBNA Europe Bank Limited, a wholly owned foreign bank subsidiary of MBNA America Bank, N.A., located in the United Kingdom, completed the securitization of &#128;706.0 million 6.7-year credit card asset backed notes issued through Chester Asset Receivables Dealings 2003-C PLC (CARDS</FONT> <FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#226;</FONT> <FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">). MBNA America Bank, N.A. is a wholly owned subsidiary of MBNA Corporation.</FONT> </DIV>
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<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">The transaction had three publicly traded asset backed notes, &#128;621.0 million Class A (senior) floating rate asset backed notes, &#128;35.5 million Class B (subordinate) floating rate asset backed notes, and &#128;49.5 million Class C (subordinate) floating rate asset backed notes. The Class A notes were priced at par and will accrue interest at 22 basis points over the three-month Euro Interbank Offered Rate ("EURIBOR"). The Class B notes were priced at par and will accrue interest at 60 basis points over the three-month EURIBOR. The Class C notes were priced at par and will accrue interest at 140 basis points over the three-month EURIBOR. Interest on the Class A notes, Class B notes, and Class C notes will be paid quarterly.</FONT> </DIV>
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<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">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 hereunto duly authorized.</FONT> </DIV>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">MBNA Corporation</FONT> </DIV></TD></TR>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">Date: November 6, 2003</FONT> </DIV></TD>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">/s/</FONT> </DIV></TD>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">Vernon H.C. Wright</FONT> </DIV></TD></TR>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">Vernon H.C. Wright</FONT></DIV></TD></TR>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times Roman">Chief Financial Officer</FONT> </DIV></TD></TR></TABLE>
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{"company-data": {"conformed-name": "MBNA CORP", "cik": "0000870517", "assigned-sic": "6021", "irs-number": "521713008", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-10683", "film-number": "03982274"}, "business-address": {"street1": "1100 N KING ST", "street2": "C/O MBNA AMERICA BANK NA", "city": "WILMINGTON", "state": "DE", "zip": "19884", "phone": "8003626255"}, "mail-address": {"street1": "1100 NORTH KING STREET", "city": "WILMINGTON", "state": "DE", "zip": "19884"}}
November 6, 2003 Securitization 8-K
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)
November 6, 2003
MBNA Corporation
(exact name of registrant as specified in its charter)
Maryland
1-10683
52-1713008
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer
Identification No.)
Wilmington, Delaware
19884-0131
(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 November 6, 2003, MBNA Europe Bank Limited, a wholly owned foreign bank subsidiary of MBNA America Bank, N.A., located in the United Kingdom, completed the securitization of €706.0 million 6.7-year credit card asset backed notes issued through Chester Asset Receivables Dealings 2003-C PLC (CARDS
â
). MBNA America Bank, N.A. is a wholly owned subsidiary of MBNA Corporation.
The transaction had three publicly traded asset backed notes, €621.0 million Class A (senior) floating rate asset backed notes, €35.5 million Class B (subordinate) floating rate asset backed notes, and €49.5 million Class C (subordinate) floating rate asset backed notes. The Class A notes were priced at par and will accrue interest at 22 basis points over the three-month Euro Interbank Offered Rate ("EURIBOR"). The Class B notes were priced at par and will accrue interest at 60 basis points over the three-month EURIBOR. The Class C notes were priced at par and will accrue interest at 140 basis points over the three-month EURIBOR. Interest on the Class A notes, Class B notes, and Class C notes will be paid quarterly.
The securities are governed by English law and are expected to be listed on the London Stock Exchange.
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 hereunto duly authorized.
MBNA Corporation
Date: November 6, 2003
By:
/s/
Vernon H.C. Wright
Vernon H.C. Wright
Chief Financial Officer