Synchrony Card Issuance Trust issues $1B Class A(2022-1) ABS notes

Synchrony Card Funding, LLC

Issued $1,000,000,000 principal amount of Class A(2022-1) notes on April 18, 2022.
Net proceeds to Trust after underwriting and expenses: ~$996.6 million.
Proceeds used to purchase credit card receivables from Synchrony Bank and repay intercompany debt.
Trust portfolio as of March 31, 2022: total receivables $7.08B; avg balance $1,068; avg credit limit $6,103.
Delinquency low: 96.6% of receivables current; 78-month average account age.

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