09:03 AM EDT, 10/27/2025 (MT Newswires) -- Jefferson Capital ( JCAP ) said Monday that a unit has agreed to acquire a portfolio of credit card assets from affiliates of Bluestem Brands for a gross purchase price of $302.8 million.

The company said the portfolio has a face value of $488.2 million and the ability to draw on the receivables has been suspended.

Jefferson Capital ( JCAP ) said it will sign an interim servicing agreement with Bluestem to facilitate the transition of portfolio servicing activities to CardWorks Servicing.

Jefferson Capital ( JCAP ) said the purchase, expected to close in Q4, will be funded under its senior secured revolving credit facility.