---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-119920"
form_type: "8-K"
ticker: null
cik: "0001724786"
company_name: "Synchrony Card Funding, LLC"
filed_at: "2023-11-20T23:59:59+00:00"
generated_at: "2026-06-07T23:26:02.972640+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Synchrony Card Issuance Trust issues $750M Class A(2023-2) notes; portfolio data disclosed

## Summary
- Issued $750M principal of Class A(2023-2) notes on Nov 15, 2023; net proceeds ~$747.19M after expenses.
- Proceeds used to purchase credit card receivables from Synchrony Bank and repay intercompany debt.
- Trust portfolio as of Oct 31, 2023: $7.74B total receivables, 6.3M accounts, avg balance $1,228.
- Delinquency: 94.7% of receivables current; 30+ days delinquent accounts represent 2.9% of total.
- VantageScore distribution: 47.9% of receivables from scores 720+, 5.8% from scores ≤599.

## SEC filing metadata
- accession: 0001104659-23-119920
- form_type: 8-K
- cik: 0001724786
- company_name: Synchrony Card Funding, LLC
- filed_at: 2023-11-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 6.05, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1724786/000110465923119920/0001104659-23-119920-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1724786/000110465923119920/tm2329680d10_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-119920
- JSON: https://secwatch.observer/filing/0001104659-23-119920.json
- Plain text: https://secwatch.observer/filing/0001104659-23-119920.txt

## Key facts
- Material Agreements
  Synchrony Card Funding, LLC entered into Class A(2023-2) Terms Document with The Bank of New York Mellon, as Indenture Trustee (effective 2023-11-15).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: The Bank of New York Mellon, as Indenture Trustee
  - Effective: 2023-11-15
  source text: On November 15, 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(2023-2) Terms Document (the “ Class A(2023-2) Terms Document ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1724786/000110465923119920/0001104659-23-119920-index.htm

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