DPL Trust announces issuance of receivables-backed notes

DPL Trust completed on Monday July 8, 2002 an offering of $515,000,000 Receivables-Backed Senior and Subordinated Notes consisting of $200,000,000 4.667% Receivables-Backed Senior Notes, Series 2002-1 with an expected final payment date of July 25, 2005; $6,000,000 5.187% Receivables-Backed Subordinated Notes, Series 2002-1 with an expected final payment date of July 25, 2005; $200,000,000 5.215% Receivables-Backed Senior Notes, Series 2002-2 with an expected final payment date of July 25, 2007; $6,000,000 5.775% Receivables-Backed Subordinated Notes, Series 2002-2 with an expected final payment date of July 25, 2007; $100,000,000 90-Day Bankers' Acceptance Rate + 0.293% Receivables-Backed Senior Notes, Series 2002-3 with an expected final payment date of July 25, 2007; and $3,000,000 5.775% Receivables-Backed Subordinated Notes, Series 2002-3 with an expected final payment date of July 25, 2007.

DPL Trust is a special purpose trust established to purchase a portion of National Bank of Canada's fixed rate personal loans. DPL Trust will use the proceeds from its offerings to acquire interests in receivables generated from the fixed rate personal loans originated and serviced by National Bank of Canada.

The offerings were initially sold through a syndicate of underwriters led by National Bank Financial Inc. The other members of the syndicate are Scotia Capital Inc., Merrill Lynch Canada Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc., Desjardins Securities Inc. and Laurentian Bank Securities Inc.

The Notes have not been and will not be registered under the United States Securities Act of 1933, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.

National Bank of Canada is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank has assets of over $75 billion and, together with its subsidiaries, it employs over 17,000 people. 

The Bank's shares are listed on the Toronto Stock Exchange.

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