Synchrony Prices Upsized Offering 5-Yr Credit Card ABS

Synchrony Bank, formerly GE Capital Retail Bank, has priced the senior tranche of a five-year credit card securitization of the year, according to a regulatory filing.

The senior tranche of class a notes issued by Synchrony Credit Card Master Note Trust's series 2015-1 was upsized by 50% to $750 million from $500 million originally. Rated triple-A by Fitch Ratings and Standard & Poor’s, it yields 2.386%, or swaps plus 58 basis points.