Synchrony Card Trust issues $750M in notes; portfolio $9.47B as of Jan 2025

Synchrony Card Funding, LLC

Issued $750M Class A(2025-1) notes on Feb 18, 2025; net proceeds ~$747.2M after underwriting and expenses.
Net proceeds used to purchase credit card receivables from Synchrony Bank and repay intercompany debt.
Trust portfolio as of Jan 31, 2025: total transferred receivables $9.47B across 8.03M accounts.
Largest program partner: Sam's Club Dual Card (28.3% of receivables; 21.3% of accounts).
Delinquency: 94.9% of receivables current or zero balance; 1.8% in 1-29 days past due.

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