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New York -- Goldman Sachs has put together a $1.75 billion financing package for J.C. Penney Co., with the loan backed by the retailer’s real estate and other assets, according to CNBC.
The news, which has not yet been confirmed by Penney, comes a day after investor George Soros reported a 7.9% stake in the company. Goldman also has not responded to a request for comment.
Earlier this month, Penney borrowed $850 million from its $1.85 billion revolving credit facility to boost its cash position and buy inventory.
News of the fresh financing package came one day after billionaire investor George Soros reported a 7.9% passive stake in Penney.