JCPenney Announces Consummation of $2.25B Term Loan and Initial Settlement of its Tender Offer and Consent Solicitation

J. C. Penney Company, Inc. (NYSE: JCP ) (the "Company") announced today that its wholly owned subsidiary, J. C. Penney Corporation, Inc. ("JCP"), has entered into a new five-year $2.25 billion senior secured term loan credit facility. The size of the facility was increased from the $1.75 billion anticipated in the commitment