Synchrony Bank (NYSE:SYF) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
| Entry into Material Definitive Agreements. |
Synchrony Credit Card Master Note Trust (the Trust)
entered into each of (i) the Eleventh Amendment to Master
Indenture (the Master Indenture Amendment), dated as of
April 21, 2017, a copy of which is filed with this Form8-K as
Exhibit4.1, between the Trust and Deutsche Bank Trust Company
Americas, as indenture trustee (the Indenture Trustee), in
order to amend certain provisions of the Master Indenture, dated
as of September 25, 2003, (ii) the Thirteenth Amendment to
Transfer Agreement (the Transfer Amendment), dated as of
April21, 2017, a copy of which is filed with this Form 8-K as
Exhibit 4.2, between the Trust and RFS Holding, L.L.C. (the
Depositor), in order to amend certain provisions of the
Transfer Agreement, dated as of September 25, 2003, (iii) the
Sixth Amendment to Servicing Agreement (the Servicing
Amendment), dated as of April 21, 2017, a copy of which is
filed with this Form 8-K as Exhibit 4.3, between the Trust and
Synchrony Financial, in order to amend certain provisions of the
Servicing Agreement, dated June 27, 2003, (iv) the Twelfth
Amendment to Receivables Sale Agreement (the RSA
Amendment), dated as of April 21, 2017, a copy of which is
filed with this Form 8-K as Exhibit 4.4, between Synchrony Bank
and the Depositor, in order to amend certain provisions of the
Receivables Sale Agreement, dated June 27, 2003, (v) the Third
Amendment to Trust Agreement (the Trust Amendment), dated
as of April21,2017, a copy of which is filed with this Form 8-K
as Exhibit 4.5, between the Depositor and BNY Mellon Trust of
Delaware, acting solely in its capacity as trustee (the
Trustee), in order to amend certain provisions of the
Trust Agreement, dated September 25, 2003, and (vi) the Second
Omnibus Supplement to Specified Indenture Supplements (Omnibus
Amendment), dated as of April 21, 2017, a copy of which is
filed with this Form 8-K as Exhibit 4.6, between the Trust and
the Indenture Trustee, in order to amend certain provisions of
the Indenture Supplements specified in the Omnibus Amendment
(collectively, the Amendments).
Each of the Amendments amends the definition of Monthly Period in
order to transition allocations, reporting and other features of
the Trusts transactions to a calendar month basis.
| Item 9.01. | Financial Statements and Exhibits. |
| (a) | Not applicable. |
| (b) | Not applicable. |
| (c) | Not applicable. |
| (d) | Exhibits. |
| Exhibit No. | Document Description |
| 4.1 |
Eleventh Amendment to Master Indenture, dated as of April 21, 2017, between the Trust and the Indenture Trustee |
| 4.2 |
Thirteenth Amendment to Transfer Agreement, dated as of April 21, 2017, between the Trust and the Depositor |
| 4.3 |
Sixth Amendment to Servicing Agreement, dated as of April 21, 2017, between the Trust and Synchrony Financial |
| 4.4 |
Twelfth Amendment to Receivables Sale Agreement, dated as of April 21, 2017, between the Synchrony Bank and the Depositor |
| 4.5 |
Third Amendment to Trust Agreement, dated as of April 21, 2017, between the Depositor and the Trustee |
| 4.6 |
Second Omnibus Supplement to Specified Indenture Supplements, dated as of April 21, 2017, between the Trust and the Indenture Trustee |
About Synchrony Bank (NYSE:SYF)
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit. It offers its credit products through its subsidiary, Synchrony Bank (the Bank). Through the Bank, it offers a range of deposit products insured by the Federal Deposit Insurance Corporation (FDIC), including certificates of deposit, individual retirement accounts (IRAs), money market accounts and savings accounts. The Company offers three types of credit products: credit cards, commercial credit products and consumer installment loans. The Company also offers a debt cancellation product. It offers two types of credit cards: private label credit cards and Dual Cards. Synchrony Bank (NYSE:SYF) Recent Trading Information
Synchrony Bank (NYSE:SYF) closed its last trading session down -0.59 at 33.23 with 11,540,957 shares trading hands.