Federated Closes Fingerhut Receivables Sale to CompuCredit

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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.

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