Synchrony Card Issuance Trust issues $750M Class A(2024-1) Notes; trust portfolio $8.46B as of Feb 29

Synchrony Card Funding, LLC

Issued $750M principal amount of SynchronySeries Class A(2024-1) Notes on March 18, 2024.
Net proceeds to Funding ~$747.2M; used to purchase credit card receivables from Synchrony Bank.
Trust portfolio: $8.46B total receivables, 7.1M accounts, 27.6% from Sam's Club Dual Card.
Delinquency: 94.6% current; 30+ days delinquent total 5.4% of receivables.
Average account balance $1,190; average credit limit $6,329; utilization 18.8%.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Synchrony Card Funding, LLC entered into Class A(2024-1) Terms Document with The Bank of New York Mellon, as Indenture Trustee (effective 2024-03-18).

Action: entry
Agreement: notes offering
Counterparty: The Bank of New York Mellon, as Indenture Trustee
Effective: 2024-03-18

Exact text from the filing

On March 18, 2024, Synchrony Card Issuance Trust (the “ Trust ”) and The Bank of New York Mellon, as Indenture Trustee (the “ Indenture Trustee ”), entered into the Class A(2024-1) Terms Document

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Source: SEC EDGAR

accession 0001104659-24-037869

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