Synchrony Card Issuance Trust issues $675M Class A(2022-2) notes; portfolio $7.18B as of June 30

Synchrony Card Funding, LLC

Issued $675M Class A(2022-2) notes on July 15, 2022; net proceeds ~$672.4M after expenses.
Trust portfolio total receivables $7.18B, 6.47M accounts, 96.3% current as of June 30, 2022.
Average account balance $1,109; credit utilization 17.9%; average account age 81 months.
Top program partners: Sam's Club 28.2%, TJX 19.7%, Lowe's 17.4% of total receivables.
Proceeds used to purchase credit card receivables from Synchrony Bank and repay intercompany debt.

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