secwatch.observer — SEC 8-K summary
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Issuer:     Synchrony Card Funding, LLC (—)
CIK:        0001724786
Form:       8-K
Filed at:   2025-11-21T23:59:59+00:00
Accession:  0001104659-25-115005
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 6.05, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Synchrony Card Issuance Trust issues $750M Class A(2025-3) notes; portfolio $10.26B
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- $750M principal of SynchronySeries Class A(2025-3) Notes issued on Nov 17, 2025; net proceeds ~$747.3M.
- Net proceeds used to purchase credit card receivables from Synchrony Bank and repay intercompany debt.
- Trust portfolio as of Oct 31, 2025: $10.26B total receivables, 8.92M accounts, average balance $1,150.
- 47.7% of portfolio receivables have VantageScore 720+; 27.5% 660-719; 6.6% 599 or below.
- Largest program partners: Sam's Club (27.8% of receivables), TJX (21.7%), Amazon (14.1%), Lowe's (12.0%).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1724786/000110465925115005/0001104659-25-115005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1724786/000110465925115005/tm2530159d8_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-115005

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer