JCP Gets Goldman Sachs Loan Facility
April 29, 2013,
PLANO, Texas-J.C. Penney has signed a commitment letter with Goldman Sachs for a five-year loan facility totaling $1.75 billion.
Under the terms of the letter, the department-store retailer will use the funds to pay for its ongoing working-capital requirements and other general corporate purposes. It will be secured by real estate and what a J.C. Penney statement described as "an interest in substantially all other assets of the company and certain of its subsidiaries."