---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-090476"
form_type: "8-K"
ticker: null
cik: "0001724786"
company_name: "Synchrony Card Funding, LLC"
filed_at: "2023-08-11T23:59:59+00:00"
generated_at: "2026-06-11T14:48:32.075147+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Synchrony Card Issuance Trust issues $1B Class A(2023-1) Notes; portfolio at $7.86B as of July 31, 2023

## Summary
- Issued $1,000,000,000 principal amount of SynchronySeries Class A(2023-1) Notes on August 9, 2023.
- Net proceeds to Funding of $996.6M used to purchase credit card receivables from Synchrony Bank and repay intercompany debt.
- Trust portfolio as of July 31, 2023: $7.86B total receivables, 6.47M accounts; average balance $1,214, average credit limit $6,416.
- Delinquency rates: 95.1% of receivables current, 0.5% 90+ days past due.
- Largest program partners: Sam's Club Dual Card (27.8% of receivables), TJX Dual Card (20.1%), Lowe's Private Label (15.2%).

## SEC filing metadata
- accession: 0001104659-23-090476
- form_type: 8-K
- cik: 0001724786
- company_name: Synchrony Card Funding, LLC
- filed_at: 2023-08-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 6.05, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1724786/000110465923090476/0001104659-23-090476-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1724786/000110465923090476/tm2322099d7_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-090476
- JSON: https://secwatch.observer/filing/0001104659-23-090476.json
- Plain text: https://secwatch.observer/filing/0001104659-23-090476.txt

## Key facts
- Material Agreements
  Synchrony Card Funding, LLC entered into Class A(2023-1) Terms Document with The Bank of New York Mellon, as Indenture Trustee (effective 2023-08-09).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: The Bank of New York Mellon, as Indenture Trustee
  - Effective: 2023-08-09
  source text: On August 9, 2023, Synchrony Card Issuance Trust (the “ Trust ”) and The Bank of New York Mellon, as Indenture Trustee (the “ Indenture Trustee ”), entered into the Class A(2023-1) Terms Document (the “ Class A(2023-1) Terms Document ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1724786/000110465923090476/0001104659-23-090476-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.