Moody's Downgrades J.C. Penney (JCP) CFR to Caa1 from B3
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J. C. Penney (JCP) Commences 7 1/8% Debenture Tender
April 30, 2013 11:36 AM EDTJ. C. Penney Company, Inc. (NYSE: JCP), as co-obligor on the Notes (as defined below), and J. C. Penney Corporation, Inc., a wholly owned subsidiary of the Company ("JCP", and together with the Company, "J. C. Penney"), as issuer of the Notes, announced today the commencement of a cash tender offer by JCP to purchase any and all of JCP's outstanding 7 1/8% Debentures Due 2023 (CUSIP No. 708160 BE5) (the "Notes") and related consent solicitation, upon the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated as of April 30,... More
J. C. Penney (JCP) $1.75B Loan Improves Liquidity; Large Drag on FCF
April 29, 2013 11:37 AM EDTThis morning J. C. Penney (NYSE: JCP) confirmed it secured a $1.75 billion term loan from Goldman. Piper Analyst Alex Fuhrman thinks the loan resolves liquidity concerns for at least 2-3 years. However, incremental interest is likely to be a large drag on... More
Imperial Capital Starts J. C. Penney (JCP) at Underperform; 'Dead Money'
April 29, 2013 9:55 AM EDTImperial Capital assigned an Underperform rating and $11 price target J. C. Penney (NYSE: JCP) common shares, HOLD ratings to the shorter-dated (2015-2018 and 2023 maturity dates) unsecured senior notes and debentures, and BUY ratings to the 5.65% senior notes due 2020 and the long-dated (2036-2097) unsecured senior... More
JCPenney (JCP) Affirms Entering $1.75B Loan Commitment with Goldman
April 29, 2013 8:07 AM EDTJCPenney (NYSE: JCP) announced that it has entered into a commitment letter with Goldman Sachs Bank USA (NYSE: GS) under which Goldman Sachs has committed to provide the Company with a five-year $1.75 billion senior secured term loan facility.
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UPDATE: J.C. Penney (JCP) Secures $1.75B Term Loan with Goldman Sachs
April 26, 2013 3:00 PM EDT(Updated - April 26, 2013 3:22 PM EDT)
JCPenney (NYSE: JCP) has a $1.75 billion loan commitment from Goldman Sachs, according to CNBC's David Faber.
According to data, the loan to JCPenney will be backed with real estate and other assets and is a... More
