Attached files
| file | filename |
|---|---|
| EX-99.1 - EX-99.1 - Barclays Dryrock Funding LLC | ex99.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 7, 2017
Commission File Number of depositor: 333-205943-01
Central Index Key Number of depositor: 0001551964
BARCLAYS DRYROCK FUNDING LLC
(Exact name of Depositor as specified in its charter)
ON BEHALF OF
Commission File Number of issuing entity:
333-205943
Central Index Key Number of issuing entity: 0001552111
BARCLAYS DRYROCK ISSUANCE TRUST
(Exact Name of Issuing Entity as Specified in Its Charter)
(Issuer of the Notes)
Commission File Number of sponsor: 333-205943-02
Central Index Key Number of sponsor: 0001551423
BARCLAYS BANK DELAWARE
(Exact Name of Sponsor as Specified in Its Charter)
|
Delaware |
45-5441359 |
| (State or Other Jurisdiction of Incorporation or Organization) | (I.R.S. Employer Identification Number) |
|
100
S. West Street, Office 120, Wilmington, DE 19801 | |
| (Address, Including Zip Code, and Telephone Number, Including Area Code, of each Registrant’s Principal Executive Offices) | |
|
N/A | |
| (Former Name or Former Address, if Changed Since Last Report) | |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
INFORMATION TO BE INCLUDED IN THE REPORT
| Item 8.01. | Other Events |
| Barclays Dryrock Issuance Trust acquired $1,012,270,439 of receivables in additional accounts from the Depositor. The conveyance of such receivables was effected pursuant to Assignment No. 6 of Receivables in Additional Accounts, dated as of March 1, 2017 (“Assignment No. 6”), by and between Barclays Dryrock Funding LLC and Barclays Dryrock Issuance Trust, and accepted and acknowledged by U.S. Bank National Association. The Assignment No. 6 is attached hereto as Exhibit 99.1. The composition of receivables in additional accounts, as of March 2, 2017, by program is set forth below. | |
Composition of Receivables in Additional Accounts by Program
| Program | Number of Accounts | % of Total Number of Accounts | Total Receivables | % of Total Receivables |
| American Airlines | 78,696 | 23.68% | $ 303,866,784 | 30.02% |
| Upromise | 25,253 | 7.60% | $ 102,138,315 | 10.09% |
| Non Co-Branded | 29,780 | 8.96% | $ 100,781,836 | 9.96% |
| LL Bean | 46,676 | 14.05% | $ 81,020,631 | 8.00% |
| Priceline.com | 31,419 | 9.45% | $ 70,694,970 | 6.98% |
| BlackCard(1) | 8,978 | 2.70% | $ 51,002,444 | 5.04% |
| Carnival Cruise Lines | 19,039 | 5.73% | $ 50,660,122 | 5.00% |
| RCI | 13,001 | 3.91% | $ 50,533,104 | 4.99% |
| Choice Hotels International | 18,042 | 5.43% | $ 40,270,066 | 3.98% |
| Travel Rewards/Wyndham Hotels | 12,862 | 3.87% | $ 40,202,246 | 3.97% |
| Republic Airways/Frontier Airlines | 12,733 | 3.83% | $ 30,404,191 | 3.00% |
| Apple | 16,199 | 4.87% | $ 30,174,981 | 2.98% |
| BlueGreen | 8,611 | 2.59% | $ 30,156,411 | 2.98% |
| NFL Properties | 8,113 | 2.44% | $ 20,218,394 | 2.00% |
| Miles & More/Lufthansa | 2,916 | 0.88% | $ 10,145,941 | 1.00% |
| Total | 332,318 | 100.00% | $ 1,012,270,439 | 100.00% |
| (1) | The BlackCard loyalty program was re-branded to Luxury Card loyalty program. |
| Item 9.01. | Exhibits |
| The following is filed as an Exhibit to this Report. | |
| Exhibit 99.1 Assignment No. 6 of Receivables in Additional Accounts, dated as of March 1, 2017, by and between Barclays Dryrock Funding LLC and Barclays Dryrock Issuance Trust, and accepted and acknowledged by U.S. Bank National Association. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BARCLAYS DRYROCK FUNDING LLC, | ||
| as depositor of Barclays Dryrock Issuance Trust | ||
| By: | /s/ Deepesh Jain | |
| Name: Deepesh
Jain Title: Vice President and Treasurer | ||
March 7, 2017
EXHIBIT INDEX
| Exhibit | Description |
| Exhibit 99.1 | Assignment No. 6 of Receivables in Additional Accounts, dated as of March 1, 2017, by and between Barclays Dryrock Funding LLC and Barclays Dryrock Issuance Trust, and accepted and acknowledged by U.S. Bank National Association |