Synchrony Card Funding Enters Underwriting for Class A(2026-2) Notes

What Happened

• Synchrony Card Funding, LLC (the “Funding”) filed an 8-K reporting that on August 5, 2026 it entered into an Underwriting Agreement with Synchrony Bank and underwriters RBC Capital Markets, BofA Securities and Mizuho Securities for the planned issuance of SynchronySeries Class A(2026-2) notes. The notes are to be issued by Synchrony Card Issuance Trust under the Trust’s Amended and Restated Master Indenture (BNY Mellon is indenture trustee).
• The Trust and indenture trustee expect to enter the Class A(2026-2) Terms Document, and the Trust, Funding and Synchrony Bank expect to enter a Risk Retention Agreement, on or about August 12, 2026. The filing includes related certifications and legal/tax opinions as exhibits.

Key Details

• Underwriting Agreement dated August 5, 2026 among Funding, Synchrony Bank, RBC Capital Markets, BofA Securities and Mizuho Securities.
• Issuer: Synchrony Card Issuance Trust; Indenture Trustee: The Bank of New York Mellon.
• Anticipated execution of the Class A(2026-2) Terms Document and Risk Retention Agreement on or about August 12, 2026.
• Depositor certification under Form SF-3 (CEO certification) filed as Exhibit 36.1; legal and tax opinions filed as Exhibits 5.1 and 8.1. Some documents are filed in unexecuted (form) form.

Why It Matters

• This 8-K documents a planned securitization financing (issuance of Class A notes) by Synchrony’s funding vehicle, which is part of how the company accesses capital and manages credit card receivable funding.
• The filing shows regulatory compliance steps (risk retention agreement and SF-3 CEO certification) and that legal/tax opinions have been obtained or provided.
• The 8-K does not disclose the offering size or pricing; retail investors should note this is a funding/structuring event rather than a change to operations or management.