Home / Knowledge / News / Target updates status of receivables ownership review
Target updates status of receivables ownership review
13
Mar '08
Target Corporation announced that it is currently in negotiations with an investment partner to sell an undivided interest in approximately half of Target's credit card receivables for about $4 billion.

This action is the result of a review of ownership alternatives for its credit card receivables that commenced in September 2007.

The proposed transaction is subject to execution of definitive agreements between Target and the potential investment partner, to receipt and sufficiency of various other third party consents, reviews and approvals, and to acceptable economics at the time of closing.

As such, no assurance can be given that a transaction will occur, but if completed, a closing during the second calendar quarter of 2008 seems possible at this time.

The proposed transaction is intended to achieve all of the objectives previously outlined in the company's September 12, 2007 announcement.

If completed, it would generate substantial liquidity for Target from a single source unrelated to the debt capital markets while continuing to utilize the skills and experience of Target's internal team to provide valuable financial products and services to its guests.

In addition, if completed, the proposed transaction would forge a new, long-term relationship with an investment partner whose broad experience is expected to result in strategic and financial benefits to Target over time.

Target Corporation

Must ReadView All

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Courtesy: Green Initiatives

Apparel/Garments | On 20th Feb 2017

Green Initiatives launches Re:Form to end textile waste

Green Initiatives, a non-government institution, has launched...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search