Texas-based transaction-based marketing solutions provider Alliance Data Systems Corporation’s private label credit card banking subsidiary, World Financial Network National Bank, has completed a renewal of a $550 million conduit facility.

The facility, which funds both existing and new private label credit card programs, currently finances approximately $250 million in card assets, providing both current financing as well as an additional source of untapped liquidity.

The facility was renewed by Barclays Capital, Royal Bank of Canada, and JP Morgan, and carries a current interest rate significantly below the company's historical (4-5%) cost of funds.

The company's private label credit card business currently employs three sources of funding for it’s roughly $4.2 billion portfolio, which represents approximately 100 brands: FDIC insured CDs, conduit facilities and term asset-backed securitizations.