EXHIBIT 99
MONTHLY SERVICER’S CERTIFICATE
BARCLAYS BANK DELAWARE
BARCLAYS DRYROCK ISSUANCE TRUST
Series 2023-1
The undersigned, a duly authorized representative of Barclays Bank Delaware (“BBD”), as servicer (in such capacity, the “Servicer”), pursuant to the Amended and Restated Servicing Agreement, dated as of December 17, 2013 (the “Agreement”), among Barclays Dryrock Funding LLC, as transferor, the Servicer, BBD, as administrator, Barclays Dryrock Issuance Trust (the “Trust”), as issuer, and U.S. Bank Trust Company, National Association, as indenture trustee (in such capacity, the “Indenture Trustee”), does hereby certify that:
| 1. | Capitalized terms used in this Certificate have their respective meanings set forth in the Agreement or the Amended and Restated Indenture, dated as of December 17, 2013, as amended by the first amendment thereto, dated as of July 6, 2015, and as further amended by the omnibus amendment dated as of September 21, 2018 (the “Master Indenture”), between the Trust and the Indenture Trustee, as supplemented by the Series 2023-1 Indenture Supplement, dated as of April 25, 2023, between the Trust and the Indenture Trustee (the “Indenture Supplement” and together with the Master Indenture, the “Indenture”), as applicable. |
| 2. | BBD is, as of the date hereof, the Servicer under the Agreement. |
| 3. | The undersigned is an Authorized Officer of the Servicer who is duly authorized pursuant to the Agreement to execute and deliver this Certificate to the Indenture Trustee. |
| 4. | This Certificate relates to the Payment Date occurring on May 15, 2025. |
| 5. | As of the date hereof, to the best knowledge of the undersigned, the Servicer has performed in all material respects its obligations under the Agreement and the Indenture through the Monthly Period preceding such Payment Date and no material default in the performance of such obligations has occurred or is continuing except as set forth in paragraph 6 below. |
| 6. | The following is a description of each material default in the performance of the Servicer’s obligations under the provisions of the Agreement known to me to have been made by the Servicer through the Monthly Period preceding such Payment Date, which sets forth in detail (i) the nature of each such default, (ii) the action taken by the Servicer, if any, to remedy each such default and (iii) the current status of each such default: |
a.
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate this 15th day of May 2025.
BARCLAYS BANK DELAWARE, as Servicer
By: /s/ Danielle Manley
Name: Danielle Manley
Title: Director
| 5 |
MONTHLY NOTEHOLDERS’ STATEMENT
BARCLAYS DRYROCK ISSUANCE TRUST
Series 2023-1
MONTHLY PERIOD ENDING April 30, 2025
Pursuant to (i) the Amended and Restated Indenture, dated as of December 17, 2013, as amended by the first amendment thereto, dated as of July 6, 2015, and as further amended by the omnibus amendment, dated as of September 21, 2018 (the “Indenture”), between Barclays Dryrock Issuance Trust, as issuer (the “Issuer”), and U.S. Bank Trust Company, National Association, as indenture trustee (the “Indenture Trustee”), as supplemented by the Series 2023-1 Indenture Supplement, dated as of April 25, 2023 (the “Indenture Supplement”), between the Issuer and the Indenture Trustee, and (ii) the Amended and Restated Servicing Agreement, dated as of December 17, 2013 (the “Servicing Agreement”), among Barclays Dryrock Funding LLC, as transferor (the “Transferor”), Barclays Bank Delaware, as servicer (in such capacity, the “Servicer”) and administrator, the Issuer and the Indenture Trustee, the Servicer is required to prepare certain information each month regarding current payments to the Series 2023-1 Noteholders and the performance of the Issuer during the previous monthly period. The information prepared with respect to the Payment Date of May 15, 2025 is set forth below. Capitalized terms used in this Monthly Noteholders’ Statement have their respective meanings set forth in the Indenture, the Indenture Supplement and the Servicing Agreement.
| A) | Information regarding payments in respect of the Class A Notes | $500,000,000.00 | |
| (1) | The total amount of the payment in respect of the Class A Notes | $1,966,666.67 | |
| (2) | The amount of the payment set forth in line item (1) above in respect of Class A Monthly Interest | $1,966,666.67 | |
| (3) | The amount of the payment set forth in line item (1) above in respect of Class A Monthly Interest previously due but not distributed on a prior Payment Date | $0.00 | |
| (4) | The amount of the payment set forth in line item (1) above in respect of Class A Additional Interest and the amount of Class A Additional Interest previously due but not distributed on a prior Payment Date | $0.00 | |
| (5) | The amount of the payment set forth in line item (1) above in respect of principal of the Class A Notes | $0.00 | |
| B) | Information regarding payments in respect of the Class B Notes | $109,757,000.00 | |
| (1) | The total amount of the payment in respect of the Class B Notes | $0.00 | |
| (2) | The amount of the payment set forth in line item (1) above in respect of Class B Monthly Interest | $0.00 | |
| (3) | The amount of the payment set forth in line item (1) above in respect of Class B Monthly Interest previously due but not distributed on a prior Payment Date | $0.00 | |
| (4) | The amount of the payment set forth in line item (1) above in respect of Class B Additional Interest and the amount of Class B Additional Interest previously due but not distributed on a prior Payment Date | $0.00 | |
| (5) | The amount of the payment set forth in line item (1) above in respect of principal of the Class B Notes | $0.00 | |
BARCLAYS BANK DELAWARE, as Servicer
By: /s/ Danielle Manley
Name: Danielle Manley
Title: Director
| 6 |
MONTHLY SERVICER’S STATEMENT
BARCLAYS DRYROCK ISSUANCE TRUST
Series 2023-1
MONTHLY PERIOD ENDING April 30, 2025
| Record date | April 30, 2025 |
| Payment date | May 15, 2025 |
| Monthly period beginning | April 01, 2025 |
| Monthly period ending | April 30, 2025 |
| Previous payment date | April 15, 2025 |
| Interest period beginning | April 15, 2025 |
| Interest period ending | May 14, 2025 |
| Days in monthly period | 30 |
| Days in interest period | 30 |
| TRUST RECEIVABLES INFORMATION | |
| Beginning of monthly period principal receivables balance | $7,374,764,740.80 |
| Beginning of monthly period non-principal receivables balance | $106,701,859.50 |
| Beginning of monthly period total receivables balance | $7,481,466,600.30 |
| Addition of principal receivables balance (end of addition day) | $0.00 |
| Addition of non-principal receivables balance (end of addition day) | $0.00 |
| Removal of principal receivables balance | $0.00 |
| Removal of non-principal receivables balance | $0.00 |
| End of monthly period principal receivables balance | $7,412,196,363.51 |
| End of monthly period non-principal receivables balance | $112,245,921.10 |
| End of monthly period total receivables balance | $7,524,442,284.61 |
| TRUST COLLECTIONS INFORMATION | |
| Finance charge collections | $92,150,901.34 |
| Fees | $15,380,324.07 |
| Interchange | $51,476,351.97 |
| Recoveries | $6,415,509.75 |
| Investment earnings on Issuer Accounts | $2,154,750.85 |
| Total finance charge collections | $165,423,087.13 |
| Principal collections | $2,406,084,081.03 |
| *Total payment rate | 33.60% |
| (* Total payment rate does not include investment earnings) | |
| TRUST DEFAULT INFORMATION | |
| Default Amount / Total Gross Losses | $29,353,561.89 |
| Total Recoveries | ($6,415,509.75) |
| Total Net Losses | $22,938,052.14 |
| Portfolio Principal Balance | $7,374,764,740.80 |
| Total Gross Losses as a percentage of the Portfolio Principal Balance | 4.78% |
| Total Net Losses as a percentage of the Portfolio Principal Balance | 3.73% |
| Number of accounts experiencing a loss | 3,815 |
| Average Net Loss per account | $6,012.60 |
|
Delinquency Data |
Percentage |
# accounts |
Total receivables |
| 1-30 days delinquent | 1.21% | 14,655 | $90,803,560.17 |
| 31-60 days delinquent | 0.60% | 6,225 | $45,299,406.01 |
| 61-90 days delinquent | 0.49% | 4,428 | $36,532,120.54 |
| 91-120 days delinquent | 0.42% | 3,450 | $31,517,549.32 |
| 121-150 days delinquent | 0.42% | 3,480 | $31,644,001.14 |
| 151-180 days delinquent | 0.41% | 3,314 | $31,195,529.53 |
| 181 and greater days delinquent | 0.00% | 1 | $8,277.39 |
| Sixty Day Delinquent Assets | 1.74% | 14,673 | $130,897,477.92 |
| TRANSFEROR INFORMATION | |
| Transferor Percentage as of the Transferor Amount Measurement Date | 84.37% |
| Minimum Transferor Amount Percentage in Calendar Month | 80.91% |
| Required Transferor Amount Percentage | 6.00% |
| SELLERS INTEREST | |
| Seller’s Interest as of the Transferor Amount Measurement Date | 471.02% |
| Required Seller’s Interest | 5.00% |
| ISSUER ACCOUNT INFORMATION | |
| Dryrock Issuance Trust Collection Account balance as of end of monthly period | $299,922,432.59 |
| Barclays Dryrock Issuance Trust Excess Funding Account balance as of end of monthly period | $0.00 |
| 7 |
BARCLAYS DRYROCK ISSUANCE TRUST
| Series Name | 2023-1 |
| Expected Final Payment Date | 04/15/2026 |
| Scheduled start of accumulation period | 04/01/2025 |
| Series 2023-1 Stated Principal Amount | $609,757,000.00 |
| Series 2023-1 Allocation amount | $609,757,000.00 |
| Series 2023-1 Floating Allocation Percentage | 8.2682% |
| Series 2023-1 Principal Allocation Percentage | 8.2682% |
|
Class Details |
Margin |
Total Interest Rate |
Stated Principal Amount |
| Class A | 0.00% | 4.72% | $500,000,000.00 |
| Class B | 0.00% | 0.00% | $109,757,000.00 |
| ALLOCATION OF SERIES 2023-1 AVAILABLE FINANCE CHARGE COLLECTIONS | |||
| 1) | Series 2023-1 Available Finance Charge Collections | $13,865,620.56 | |
| 2) | Class A Notes | ||
| a) | Class A Monthly Interest | $1,966,666.67 | |
| b) | Class A Monthly Interest previously due but not paid | $0.00 | |
| c) | Class A Additional Interest and Class A Additional Interest previously due but not paid | $0.00 | |
| 3) | Series 2023-1 Servicing Fee paid to Servicer | $1,021,419.81 | |
| 4) | Series 2023-1 Servicing Fee, previously due but not paid | $0.00 | |
| 5) | Class B Notes | ||
| a) | Class B Monthly Interest | $0.00 | |
| b) | Class B Monthly Interest previously due but not paid | $0.00 | |
| c) | Class B Additional Interest and Class B Additional Interest previously due but not paid | $0.00 | |
| 6) | Series 2023-1 Default Amount treated as Series 2023-1 Available Principal Collections | $2,426,998.00 | |
| 7) | Unreimbursed Investor Charge-offs and Reallocated Principal Collections treated as Series 2023-1 Available Principal Collections | $0.00 | |
| 8) | Accumulation Reserve Account funding | $0.00 | |
| 9) | In the event of default and acceleration, the Outstanding Dollar Principal Amount of the notes treated as Series 2023-1 Available Principal Collections | $0.00 | |
| 10) | Shared Excess Available Finance Charge Collections available for allocation to other series in Shared Excess Available Finance Charge Collections (Group 1) | $8,450,536.08 | |
| 11) | Amount due under any other obligations of Barclays Dryrock Issuance Trust under the Transaction Documents | $0.00 | |
| 12) | Holder of the Transferor Interest | $8,450,536.08 | |
| APPLICATION OF SHARED EXCESS AVAILABLE FINANCE CHARGE COLLECTIONS ALLOCATED TO SERIES 2023-1 | |||
| 1) | Series 2023-1 Available Finance Charge Collections Shortfall | $0.00 | |
| 2) | Shared Excess Available Finance Charge Collections allocated to Series 2023-1 | $0.00 | |
| 3) | Class A Monthly Interest and Class A Additional Interest and any past due amounts | $0.00 | |
| 4) | Unpaid Servicing Fee | $0.00 | |
| 5) | Class B Monthly Interest and Class B Additional Interest and any past due amounts | $0.00 | |
| 6) | Default Amount treated as Available Principal Collections | $0.00 | |
| 7) | Unreimbursed Investor charge-offs and Reallocated Principal Collections treated as Series 2023-1 Available Principal Collections | $0.00 | |
| 8) | Accumulation Reserve Account | $0.00 | |
| 9) | Holder of the Transferor Interest | $0.00 | |
| SERIES 2023-1 AVAILABLE PRINCIPAL COLLECTIONS | |||
| Principal Collections allocated to Series 2023-1 | $198,938,767.89 | ||
| less Reallocated Principal Collections | $0.00 | ||
| plus Series Default Amount Paid from finance charge collections | $2,426,998.00 | ||
| plus an amount equal to the sum of Investor Charge-offs and the amount of Reallocated Principal Collections previously not reimbursed, paid by Available Finance Charge Collections | $0.00 | ||
| Series 2023-1 Available Principal Collections | $201,365,765.89 | ||
| Series 2023-1 Available Principal Collections, less any amount released and used to purchase Receivables under Section 4.01(f) of the Series 2023-1 Indenture Supplement | $95,146,851.25 | ||
| 8 |
APPLICATION OF SERIES 2023-1 AVAILABLE PRINCIPAL COLLECTIONS DURING REVOLVING PERIOD
| 1) | Shared Excess Available Principal Collections | $0.00 | |
| APPLICATION OF SERIES 2023-1 PRINCIPAL COLLECTIONS DURING CONTROLLED ACCUMULATION PERIOD | |||
| 1) | Amount deposited in the Principal Funding Account | $50,813,083.33 | |
| 2) | Shared Excess Available Principal Collections | $0.00 | |
| APPLICATION OF SERIES 2023-1 AVAILABLE PRINCIPAL COLLECTIONS DURING EARLY AMORTIZATION PERIOD | |||
| 1) | Paid to the Class A Noteholders | $0.00 | |
| 2) | Paid to the Class B Noteholders | $0.00 | |
| 3) | Shared Excess Available Principal Collections | $0.00 | |
| APPLICATION OF SHARED EXCESS AVAILABLE PRINCIPAL COLLECTIONS ALLOCATED TO SERIES 2023-1 | |||
| 1) | Series 2023-1 Principal Collections Shortfall | $0.00 | |
| 2) | Shared Excess Available Principal Collections | $0.00 | |
| 3) | During the Controlled Accumulation Period: | ||
| 3a | Amount deposited in the Principal Funding Account | $0.00 | |
| 4) | During the Early Amortization Period: | ||
| 4a | Paid to the Class A Noteholders | $0.00 | |
| 4a | Paid to the Class B Noteholders | $0.00 | |
| Holder of the Transferor Interest | $44,333,767.92 | ||
| SERIES 2023-1 ACCOUNT INFORMATION | |||
| Accumulation Reserve Account balance | |||
| Beginning balance | $3,048,785.00 | ||
| Current deposit | $0.00 | ||
| Accumulation Reserve Draw Amount | $0.00 | ||
| Ending Balance | $3,048,785.00 | ||
| Principal Funding Account balance | |||
| Beginning balance | $0.00 | ||
| Current deposit | $50,813,083.33 | ||
| Paid to the Class A Noteholders | $0.00 | ||
| Paid to the Class B Noteholders | $0.00 | ||
| Ending Balance | $50,813,083.33 | ||
| SERIES 2023-1 PERFORMANCE DATA | |||
| Portfolio Yield | |||
| Current Monthly Period | 22.51% | ||
| Prior Monthly Period | 24.00% | ||
| Second Prior Monthly Period | 22.05% | ||
| Base Rate | |||
| Current Monthly Period | 5.87% | ||
| Prior Monthly Period | 5.87% | ||
| Second Prior Monthly Period | 5.87% | ||
| Excess Spread Percentage | |||
| Current Monthly Period | 16.64% | ||
| Prior Monthly Period | 18.13% | ||
| Second Prior Monthly Period | 16.18% | ||
| Quarterly Excess Spread Percentage | 16.98% | ||
| Required Excess Spread Percentage | 0.00% | ||
| Is the Quarterly Excess Spread Percentage greater than the Required Excess Spread Percentage? | Yes | ||
| Delinquency Trigger Percentage | 9.00% | ||
| Is the Sixty Day Delinquency Rate Percentage equal to or greater than the Delinquency Trigger Percentage? | No | ||
To the knowledge of the undersigned, no Early Amortization Event or Early Redemption Event has occurred.
Capitalized terms used in the Monthly Servicer’s Statement have their respective meanings set forth in the Indenture, Indenture Supplement and the Servicing Agreement
At the date of this report, the Transferor as “originator” for the purposes of EU Regulation no. 575/2013 (the “CRR”) retains an economic interest in Barclays Dryrock Issuance Trust in the form of the minimum transferor interest (option(b)) in accordance with Article 405 of the CRR. The current transferor interest in disclosed in the relevant section of this report.
BARCLAYS BANK DELAWARE, as Servicer
By: /s/ Danielle Manley
Name: Danielle Manley
Title: Director
| 9 |
MONTHLY SERVICER’S CERTIFICATE
BARCLAYS BANK DELAWARE
BARCLAYS DRYROCK ISSUANCE TRUST
Series 2023-2
The undersigned, a duly authorized representative of Barclays Bank Delaware (“BBD”), as servicer (in such capacity, the “Servicer”), pursuant to the Amended and Restated Servicing Agreement, dated as of December 17, 2013 (the “Agreement”), among Barclays Dryrock Funding LLC, as transferor, the Servicer, BBD, as administrator, Barclays Dryrock Issuance Trust (the “Trust”), as issuer, and U.S. Bank Trust Company, National Association, as indenture trustee (in such capacity, the “Indenture Trustee”), does hereby certify that:
| 1. | Capitalized terms used in this Certificate have their respective meanings set forth in the Agreement or the Amended and Restated Indenture, dated as of December 17, 2013, as amended by the first amendment thereto, dated as of July 6, 2015, and as further amended by the omnibus amendment dated as of September 21, 2018 (the “Master Indenture”), between the Trust and the Indenture Trustee, as supplemented by the Series 2023-2 Indenture Supplement, dated as of November 20, 2023, between the Trust and the Indenture Trustee (the “Indenture Supplement” and together with the Master Indenture, the “Indenture”), as applicable. |
| 2. | BBD is, as of the date hereof, the Servicer under the Agreement. |
| 3. | The undersigned is an Authorized Officer of the Servicer who is duly authorized pursuant to the Agreement to execute and deliver this Certificate to the Indenture Trustee. |
| 4. | This Certificate relates to the Payment Date occurring on May 15, 2025. |
| 5. | As of the date hereof, to the best knowledge of the undersigned, the Servicer has performed in all material respects its obligations under the Agreement and the Indenture through the Monthly Period preceding such Payment Date and no material default in the performance of such obligations has occurred or is continuing except as set forth in paragraph 6 below. |
| 6. | The following is a description of each material default in the performance of the Servicer’s obligations under the provisions of the Agreement known to me to have been made by the Servicer through the Monthly Period preceding such Payment Date, which sets forth in detail (i) the nature of each such default, (ii) the action taken by the Servicer, if any, to remedy each such default and (iii) the current status of each such default: |
a.
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate this 15th day of May 2025.
BARCLAYS BANK DELAWARE, as Servicer
By: /s/ Danielle Manley
Name: Danielle Manley
Title: Director
| 10 |
MONTHLY NOTEHOLDERS’ STATEMENT
BARCLAYS DRYROCK ISSUANCE TRUST
Series 2023-2
MONTHLY PERIOD ENDING April 30, 2025
Pursuant to (i) the Amended and Restated Indenture, dated as of December 17, 2013, as amended by the first amendment thereto, dated as of July 6, 2015, and as further amended by the omnibus amendment, dated as of September 21, 2018 (the “Indenture”), between Barclays Dryrock Issuance Trust, as issuer (the “Issuer”), and U.S. Bank Trust Company, National Association, as indenture trustee (the “Indenture Trustee”), as supplemented by the Series 2023-2 Indenture Supplement, dated as of November 20, 2023 (the “Indenture Supplement”), between the Issuer and the Indenture Trustee, and (ii) the Amended and Restated Servicing Agreement, dated as of December 17, 2013 (the “Servicing Agreement”), among Barclays Dryrock Funding LLC, as transferor (the “Transferor”), Barclays Bank Delaware, as servicer (in such capacity, the “Servicer”) and administrator, the Issuer and the Indenture Trustee, the Servicer is required to prepare certain information each month regarding current payments to the Series 2023-2 Noteholders and the performance of the Issuer during the previous monthly period.
The information prepared with respect to the Payment Date of May 15, 2025 is set forth below. Capitalized terms used in this Monthly Noteholders’ Statement have their respective meanings set forth in the Indenture, the Indenture Supplement and the Servicing Agreement.
| A) | Information regarding payments in respect of the Class A Notes | $750,000,000.00 | |
| (1) | The total amount of the payment in respect of the Class A Notes | $3,277,943.75 | |
| (2) | The amount of the payment set forth in line item (1) above in respect of Class A Monthly Interest | $3,277,943.75 | |
| (3) | The amount of the payment set forth in line item (1) above in respect of Class A Monthly Interest previously due but not distributed on a prior Payment Date | $0.00 | |
| (4) | The amount of the payment set forth in line item (1) above in respect of Class A Additional Interest and the amount of Class A Additional Interest previously due but not distributed on a prior Payment Date | $0.00 | |
| (5) | The amount of the payment set forth in line item (1) above in respect of principal of the Class A Notes | $0.00 | |
| B) | Information regarding payments in respect of the Class B Notes | $164,635,000.00 | |
| (1) | The total amount of the payment in respect of the Class B Notes | $0.00 | |
| (2) | The amount of the payment set forth in line item (1) above in respect of Class B Monthly Interest | $0.00 | |
| (3) | The amount of the payment set forth in line item (1) above in respect of Class B Monthly Interest previously due but not distributed on a prior Payment Date | $0.00 | |
| (4) | The amount of the payment set forth in line item (1) above in respect of Class B Additional Interest and the amount of Class B Additional Interest previously due but not distributed on a prior Payment Date | $0.00 | |
| (5) | The amount of the payment set forth in line item (1) above in respect of principal of the Class B Notes | $0.00 | |
BARCLAYS BANK DELAWARE, as Servicer
By: /s/ Danielle Manley
Name: Danielle Manley
Title: Director
| 11 |
MONTHLY SERVICER’S STATEMENT
BARCLAYS DRYROCK ISSUANCE TRUST
Series 2023-2
MONTHLY PERIOD ENDING April 30, 2025
| Record date | April 30, 2025 |
| Payment date | May 15, 2025 |
| Monthly period beginning | April 01, 2025 |
| Monthly period ending | April 30, 2025 |
| Previous payment date | April 15, 2025 |
| Interest period beginning | April 15, 2025 |
| Interest period ending | May 14, 2025 |
| Days in monthly period | 30 |
| Days in interest period | 30 |
| TRUST RECEIVABLES INFORMATION | |
| Beginning of monthly period principal receivables balance | $7,374,764,740.80 |
| Beginning of monthly period non-principal receivables balance | $106,701,859.50 |
| Beginning of monthly period total receivables balance | $7,481,466,600.30 |
| Addition of principal receivables balance (end of addition day) | $0.00 |
| Addition of non-principal receivables balance (end of addition day) | $0.00 |
| Removal of principal receivables balance | $0.00 |
| Removal of non-principal receivables balance | $0.00 |
| End of monthly period principal receivables balance | $7,412,196,363.51 |
| End of monthly period non-principal receivables balance | $112,245,921.10 |
| End of monthly period total receivables balance | $7,524,442,284.61 |
| TRUST COLLECTIONS INFORMATION | |
| Finance charge collections | $92,150,901.34 |
| Fees | $15,380,324.07 |
| Interchange | $51,476,351.97 |
| Recoveries | $6,415,509.75 |
| Investment earnings on Issuer Accounts | $2,154,750.85 |
| Total finance charge collections | $165,423,087.13 |
| Principal collections | $2,406,084,081.03 |
| *Total payment rate | 33.60% |
| (* Total payment rate does not include investment earnings) | |
| TRUST DEFAULT INFORMATION | |
| Default Amount / Total Gross Losses | $29,353,561.89 |
| Total Recoveries | ($6,415,509.75) |
| Total Net Losses | $22,938,052.14 |
| Portfolio Principal Balance | $7,374,764,740.80 |
| Total Gross Losses as a percentage of the Portfolio Principal Balance | 4.78% |
| Total Net Losses as a percentage of the Portfolio Principal Balance | 3.73% |
| Number of accounts experiencing a loss | 3,815 |
| Average Net Loss per account | $6,012.60 |
|
Delinquency Data |
Percentage |
# accounts |
Total receivables |
| 1-30 days delinquent | 1.21% | 14,655 | $90,803,560.17 |
| 31-60 days delinquent | 0.60% | 6,225 | $45,299,406.01 |
| 61-90 days delinquent | 0.49% | 4,428 | $36,532,120.54 |
| 91-120 days delinquent | 0.42% | 3,450 | $31,517,549.32 |
| 121-150 days delinquent | 0.42% | 3,480 | $31,644,001.14 |
| 151-180 days delinquent | 0.41% | 3,314 | $31,195,529.53 |
| 181 and greater days delinquent | 0.00% | 1 | $8,277.39 |
| Sixty Day Delinquent Assets | 1.74% | 14,673 | $130,897,477.92 |
| TRANSFEROR INFORMATION | |
| Transferor Percentage as of the Transferor Amount Measurement Date | 84.37% |
| Minimum Transferor Amount Percentage in Calendar Month | 80.91% |
| Required Transferor Amount Percentage | 6.00% |
| SELLERS INTEREST | |
| Seller’s Interest as of the Transferor Amount Measurement Date | 471.02% |
| Required Seller’s Interest | 5.00% |
| 12 |
| ISSUER ACCOUNT INFORMATION | |
| Dryrock Issuance Trust Collection Account balance as of end of monthly period | $299,922,432.59 |
| Barclays Dryrock Issuance Trust Excess Funding Account balance as of end of monthly period | $0.00 |
| BARCLAYS DRYROCK ISSUANCE TRUST | |
| Series Name | 2023-2 |
| Expected Final Payment Date | 10/15/2025 |
| Scheduled start of accumulation period | 12/01/2024 |
| Series 2023-2 Stated Principal Amount | $914,635,000.00 |
| Series 2023-2 Allocation amount | $640,244,500.00 |
| Series 2023-2 Floating Allocation Percentage | 8.6816% |
| Series 2023-2 Principal Allocation Percentage | 12.4022% |
| Current period SOFR | 4.34% |
|
Class Details |
Margin |
Total Interest Rate |
Stated Principal Amount |
| Class A | 0.90% | 5.24% | $750,000,000.00 |
| Class B | 0.00% | 0.00% | $164,635,000.00 |
| ALLOCATION OF SERIES 2023-2 AVAILABLE FINANCE CHARGE COLLECTIONS | |||
| 1) | Series 2023-2 Available Finance Charge Collections | $16,161,983.84 | |
| 2) | Class A Notes | ||
| a) | Class A Monthly Interest | $3,277,943.75 | |
| b) | Class A Monthly Interest previously due but not paid | $0.00 | |
| c) | Class A Additional Interest and Class A Additional Interest previously due but not paid | $0.00 | |
| 3) | Series 2023-2 Servicing Fee paid to Servicer | $1,072,490.21 | |
| 4) | Series 2023-2 Servicing Fee, previously due but not paid | $0.00 | |
| 5) | Class B Notes | ||
| a) | Class B Monthly Interest | $0.00 | |
| b) | Class B Monthly Interest previously due but not paid | $0.00 | |
| c) | Class B Additional Interest and Class B Additional Interest previously due but not paid | $0.00 | |
| 6) | Series 2023-2 Default Amount treated as Series 2023-2 Available Principal Collections | $2,548,346.50 | |
| 7) | Unreimbursed Investor Charge-offs and Reallocated Principal Collections treated as Series 2023-2 Available Principal Collections | $0.00 | |
| 8) | Accumulation Reserve Account funding | $496,373.33 | |
| 9) | In the event of default and acceleration, the Outstanding Dollar Principal Amount of the notes treated as Series 2023-2 Available Principal Collections | $0.00 | |
| 10) | Shared Excess Available Finance Charge Collections available for allocation to other series in Shared Excess Available Finance Charge Collections (Group 1) | $8,766,830.05 | |
| 11) | Amount due under any other obligations of Barclays Dryrock Issuance Trust under the Transaction Documents | $0.00 | |
| 12) | Holder of the Transferor Interest | $8,766,830.05 | |
| APPLICATION OF SHARED EXCESS AVAILABLE FINANCE CHARGE COLLECTIONS ALLOCATED TO SERIES 2023-2 | |||
| 1) | Series 2023-2 Available Finance Charge Collections Shortfall | $0.00 | |
| 2) | Shared Excess Available Finance Charge Collections allocated to Series 2023-2 | $0.00 | |
| 3) | Class A Monthly Interest and Class A Additional Interest and any past due amounts | $0.00 | |
| 4) | Unpaid Servicing Fee | $0.00 | |
| 5) | Class B Monthly Interest and Class B Additional Interest and any past due amounts | $0.00 | |
| 6) | Default Amount treated as Available Principal Collections | $0.00 | |
| 7) | Unreimbursed Investor charge-offs and Reallocated Principal Collections treated as Series 2023-2 Available Principal Collections | $0.00 | |
| 8) | Accumulation Reserve Account | $0.00 | |
| 9) | Holder of the Transferor Interest | $0.00 | |
| SERIES 2023-2 AVAILABLE PRINCIPAL COLLECTIONS | |||
| Principal Collections allocated to Series 2023-2 | $298,407,988.70 | ||
| less Reallocated Principal Collections | $0.00 | ||
| plus Series Default Amount Paid from finance charge collections | $2,548,346.50 | ||
| plus an amount equal to the sum of Investor Charge-offs and the amount of Reallocated Principal Collections previously not reimbursed, paid by Available Finance Charge Collections | $0.00 | ||
| Series 2023-2 Available Principal Collections | $300,956,335.20 | ||
| Series 2023-2 Available Principal Collections, less any amount released and used to purchase Receivables under Section 4.01(f) of the Series 2023-2 Indenture Supplement | $141,627,962.61 | ||
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APPLICATION OF SERIES 2023-2 AVAILABLE PRINCIPAL COLLECTIONS DURING REVOLVING PERIOD
| 1) | Shared Excess Available Principal Collections | $0.00 | |
| APPLICATION OF SERIES 2023-2 PRINCIPAL COLLECTIONS DURING CONTROLLED ACCUMULATION PERIOD | |||
| 1) | Amount deposited in the Principal Funding Account | $91,463,500.00 | |
| 2) | Shared Excess Available Principal Collections | $0.00 | |
| APPLICATION OF SERIES 2023-2 AVAILABLE PRINCIPAL COLLECTIONS DURING EARLY AMORTIZATION PERIOD | |||
| 1) | Paid to the Class A Noteholders | $0.00 | |
| 2) | Paid to the Class B Noteholders | $0.00 | |
| 3) | Shared Excess Available Principal Collections | $0.00 | |
| APPLICATION OF SHARED EXCESS AVAILABLE PRINCIPAL COLLECTIONS ALLOCATED TO SERIES 2023-2 | |||
| 1) | Series 2023-2 Principal Collections Shortfall | $0.00 | |
| 2) | Shared Excess Available Principal Collections | $0.00 | |
| 3) | During the Controlled Accumulation Period: | ||
| 3a | Amount deposited in the Principal Funding Account | $0.00 | |
| 4) | During the Early Amortization Period: | ||
| 4a | Paid to the Class A Noteholders | $0.00 | |
| 4a | Paid to the Class B Noteholders | $0.00 | |
| Holder of the Transferor Interest | $50,164,462.61 | ||
| SERIES 2023-2 ACCOUNT INFORMATION | |||
| Accumulation Reserve Account balance | |||
| Beginning balance | $4,573,175.00 | ||
| Current deposit | $496,373.33 | ||
| Accumulation Reserve Draw Amount | $496,373.33 | ||
| Ending Balance | $4,573,175.00 | ||
| Principal Funding Account balance | |||
| Beginning balance | $365,854,000.00 | ||
| Current deposit | $91,463,500.00 | ||
| Paid to the Class A Noteholders | $0.00 | ||
| Paid to the Class B Noteholders | $0.00 | ||
| Ending Balance | $457,317,500.00 | ||
| SERIES 2023-2 PERFORMANCE DATA | |||
| Portfolio Yield | |||
| Current Monthly Period | 25.52% | ||
| Prior Monthly Period | 25.91% | ||
| Second Prior Monthly Period | 23.10% | ||
| Base Rate | |||
| Current Monthly Period | 6.30% | ||
| Prior Monthly Period | 6.16% | ||
| Second Prior Monthly Period | 5.87% | ||
| Excess Spread Percentage | |||
| Current Monthly Period | 19.22% | ||
| Prior Monthly Period | 19.75% | ||
| Second Prior Monthly Period | 17.23% | ||
| Quarterly Excess Spread Percentage | 18.73% | ||
| Required Excess Spread Percentage | 0.00% | ||
| Is the Quarterly Excess Spread Percentage greater than the Required Excess Spread Percentage? | Yes | ||
| Delinquency Trigger Percentage | 9.00% | ||
| Is the Sixty Day Delinquency Rate Percentage equal to or greater than the Delinquency Trigger Percentage? | No | ||
To the knowledge of the undersigned, no Early Amortization Event or Early Redemption Event has occurred.
Capitalized terms used in the Monthly Servicer’s Statement have their respective meanings set forth in the Indenture, Indenture Supplement and the Servicing Agreement
At the date of this report, the Transferor as “originator” for the purposes of EU Regulation no. 575/2013 (the “CRR”) retains an economic interest in Barclays Dryrock Issuance Trust in the form of the minimum transferor interest (option(b)) in accordance with Article 405 of the CRR. The current transferor interest in disclosed in the relevant section of this report.
BARCLAYS BANK DELAWARE, as Servicer
By: /s/ Danielle Manley
Name: Danielle Manley
Title: Director
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