This morning J.C. Penney Company, Inc. (NYSE:JCP) announced that it entered into a commitment letter with lenders to provide the company with a five-year $1.75bn senior secured term loan facility. Proceeds may be used to fund ongoing working capital requirements and other general corporate purposes and to amend, acquire or satisfy and discharge J.C. Penney Company, Inc. (NYSE:JCP)’s outstanding 7.125% notes due 2023. While $1.75bn of additional liquidity is certainly a step toward addressing J.C....
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