Seeking Alpha

Details emerge on J.C. Penney's new credit facility

  • J.C. Penney (JCP) discloses details on its $2.35B credit facility with a number of banks.
  • The rate paid on the company's loan will be a LIBOR rate plus a spread (undisclosed).
  • The maturity date of the credit facility is five years from the closing date.
  • The current balance on the existing credit facility is $650M.
  • SEC Form 8-K
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