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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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November 24, 2014
13:32 EDTJCPJ.C. Penney director discloses 100K share purchase at $7.28
J.C. Penney director Javier Teruel disclosed in a filing late Friday the purchase of 100K shares at $7.28 on Nov. 19. Shares of JCP are up 5.5% in early afternoon trading.
November 19, 2014
10:25 EDTJCPOptions with decreasing implied volatility
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November 18, 2014
10:20 EDTJCPOptions with decreasing implied volatility
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November 17, 2014
14:21 EDTJCPEarnings Preview: Home Depot shares up over 17% since last earnings report
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12:03 EDTJCPOptions with decreasing implied volatility
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