May 6, 2008
Target sells stake in credit card receivables to JPMorgan
Target Corp. says it is selling an interest in its credit-card receivables business to JPMorgan Chase for about $3.6 billion.
The Minneapolis-based discount retailer says the interest represents about 47 percent of the principal amount of Target's outstanding receivables.
The deal is expected to close before the end of the month.
Target says the deal will provide it 'significant liquidity' without the need to access term debt capital markets again this year and will not affect Target customers. Read more
Comments
Please note by clicking on "Post Comment" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.
| Topic | Updated | Last By | Comments |
|---|---|---|---|
| Sometimes, it really can pay you to complain | 14 hr | UAW 1 | 5 |
| Target too divisive | Jul 3 | Michael | 1 |
| 4th of July monies | Jul 3 | Michael | 1 |
| Target rescinds coupon offer because of tampering | Jul 2 | Alt | 3 |
| The Break Room (Target Employee Forum!) (from May '07) | Jun 19 | nlb baby | 20 |
| Target's sales slump continues in May | Jun '08 | Chad | 10 |
| Minneapolis / Gretz guilty of wife's murder | Jun '08 | Jack Sparrow | 4 |
Most Popular
