J.C. Penney (JCP) Enters $500M of Incremental Bank Commitments
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JCPENNEY ANNOUNCES PLANS TO RETIRE $500 MILLION ASSET-BASED TERM LOAN
November 16, 2015 4:26 PM ESTÂ Plans to upsize Asset-Based Revolving Credit Facility and reduce annual interest payments by approximately $20 million; Overall Facility Size Remains Unchanged at $2.35 Billion
PLANO, Texas - (Nov 16, 2015) - J. C. Penney Company, Inc. (NYSE: JCP) announced today that it has received $500 million of incremental bank commitments to increase the size of the Revolving Line of Credit under its existing Senior Secured Asset-Based Credit Facility ("ABL") to $2.35 billion from $1.85 billion. In connection with upsizing the revolving credit facility, the Company also... More
