Fingerhut Gets $100M Credit Line

Share this content:
Fingerhut Direct received a $100 million senior secured line of credit, the company said yesterday.

"The money will be used to finance inventory and receivables and be used for general working capital," spokeswoman Mary Pernula said.

The credit consists of a revolving line of credit secured by inventory and a bridge loan for consumer installment receivables.

CIT Business Credit's Retail Finance Group acted as lead arranger and administrative agent.

Fingerhut's assets were acquired last year by Tom Petters and Ted Deikel. Their first catalog mailing took place Nov. 9. They are partners with Deikel serving as chairman. Six catalogs have been mailed in the first quarter of 2003.


Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above