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Stock Market & Financial Investment News

News Breaks
June 23, 2014
08:32 EDTJCPJ.C. Penney closes $2.35B credit facility
J. C. Penney Company announced that it has closed its new $2.35B asset-based senior secured credit facility, comprised of a $1.85B revolving line of credit and a $500M term loan. The new facility replaces a $1.85B credit facility that was scheduled to mature in April 2016 and provides better pricing terms than the previous facility. Proceeds from the term loan will be used to pay down the cash borrowings on the previous facility. The revolving line of credit will be available for working capital and general corporate purposes. Ed Record, CFO of JCPenney, said, "We proactively pursued this new facility to extend the maturity several years and further enhance our liquidity position, particularly during periods of peak working capital needs. We are pleased with the improved pricing terms of this facility as well as the support and confidence from our banking partners." The arrangement of the credit facility was co-led by Wells Fargo, Bank of America Merrill Lynch, J.P. Morgan, Barclays and Goldman Sachs.
News For JCP From The Last 14 Days
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September 15, 2014
11:51 EDTJCPStocks with call strike movement; TWTR JCP
Twitter (TWTR) November 57.50 call option implied volatility increased 4% to 54, J.C. Penney (JCP) October 12 call option implied volatility increased 8% to 52 according to IVolatility.
September 12, 2014
07:44 EDTJCPJ.C. Penney volatility low into company hosted analyst day
J.C. Penney September call option implied volatility is at 40, October is at 42, November is at 45, January and February is at 41; compared to its 26-week average of 53 according to Track Data suggesting decreasing price movement into a company hosted analyst day event on October 8.
September 10, 2014
11:43 EDTJCPLand's End soars after better than expected Q2 results
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September 9, 2014
07:16 EDTJCPSterne Agee to hold a field trip
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September 8, 2014
11:15 EDTJCPJ.C. Penney volatility at 27-month low
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