Federated Closes Fingerhut Receivables Sale to CompuCredit
Federated Department Stores Inc., Cincinnati, on Friday announced the closing of the sale of about $1.2 billion of Fingerhut receivables to CompuCredit Corp., Atlanta.The transaction also includes the assumption of $450 million in receivables-backed debt that has been issued by the Fingerhut Master Trust.
Additional terms were not disclosed.
