UNITED STATES
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): January 22, 2007
TARGET RECEIVABLES CORPORATION
(Depositor into the Issuing Entity for the Certificates)
TARGET CREDIT CARD MASTER TRUST
(Issuing Entity for the Certificates)
TARGET CREDIT CARD OWNER TRUST 2005-1
(Issuing Entity for the Notes)
Minnesota
(State or other jurisdiction of incorporation)
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0-26930 |
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41-1812153 |
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(Commission File Number) |
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(I.R.S. Employer Identification Number) |
Target Receivables Corporation
1000 Nicollet Mall
31st Floor, Suite 3136
Minneapolis, Minnesota 55403
(612) 696-3102
(Address, including Zip Code, and Telephone Number,
Including Area Code, of Registrant’s Principal Executive Office)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01: Other Events
The Monthly Servicer’s Certificate for the Monthly Period ended December 30, 2006, the Monthly Collateral Certificateholders’ Statement for the Monthly Period ended December 30, 2006 and the Monthly Administrator’s Statement for the Monthly Period ended December 30, 2006, with respect to the Floating Rate Class A Asset Backed Notes, Series 2005-1, and the Subordinated Interests, Series 2005-1, issued by the Target Credit Card Owner Trust (the “Trust”), were delivered to the Trustee on January 22, 2007.
The above described Monthly Servicer’s Certificate is filed as Exhibit 20.1 to this Report. The above described Monthly Collateral Certificateholders’ Statement is filed as Exhibit 20.2 to this Report. The above described Monthly Administrator’s Statement is filed as Exhibit 20.3 to this Report.
The reported results for fiscal December were influenced by the timing of the receipt of merchant fees. Merchant fees from Target are paid monthly on each Distribution Date. As the November Distribution Date occurred on November 27, after the close of the Transferor’s November fiscal month, both fiscal November and fiscal December merchant fee collections are included in this report for the Monthly Period ended December 30, 2006. Had the November merchant fee collections occurred in fiscal November, finance charge collections for fiscal December would have decreased by $6,297,192.46 and the Portfolio Yield would have been 20.60% rather than 21.67%.
(c) Exhibits
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20.1 |
Series 2005-1 Monthly Servicer’s Certificate for the Monthly Period ended December 30, 2006. |
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20.2 |
Series 2005-1 Monthly Collateral Certificateholders’ Statement for the Monthly Period ended December 30, 2006. |
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20.3 |
Series 2005-1 Monthly Administrator’s Statement for the Monthly Period ended December 30, 2006. |
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Dated: January 22, 2007 |
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TARGET RECEIVABLES CORPORATION |
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By: |
/s/ Terrence J. Scully |
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Name: |
Terrence J. Scully |
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Title: |
Vice President |
EXHIBIT INDEX
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Exhibit |
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Description |
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Method
of |
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20.1 |
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Series 2005-1 Monthly Servicer’s Certificate for the Monthly Period ended December 30, 2006. |
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Filed |
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20.2 |
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Series 2005-1 Monthly Collateral Certificateholders’ Statement for the Monthly Period ended December 30, 2006. |
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Filed |
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20.3 |
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Series 2005-1 Monthly Administrator’s Statement for the Monthly Period ended December 30, 2006. |
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Filed |