Target (TGT) announces an agreement to sell its $5.9B credit card portfolio to TD Bank (TD)....

|About: Target Corporation (TGT)|By:, SA News Editor

Target (TGT) announces an agreement to sell its $5.9B credit card portfolio to TD Bank (TD). Target expects to use about 90% of proceeds from the sale to repay debt and the rest to buy back shares. Additionally, TD will take over all Target Credit Card and Target Visa operations for 7 years. (PR)