JCPenney Ups Credit Facility To $1.85 Billion
NEW YORK (AP) - JCPenney Co. has amended its bank credit facility to increase its borrowing capacity as it looks to finance its multiyear transformation.
The department store chain said Tuesday it expanded the credit facility to $1.85 billion and got an option to increase that by another $400 million.
JCPenney's previous facility had $1.75 billion of borrowing capacity, according to Deborah Weinswig of Citi Investment Research.
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