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J.C. Penney completes new $1.25 billion credit facility
Plano, Texas -- J. C. Penney Corp. has completed a new five-year $1.25 billion bank credit facility.
The new facility replaces a $750 million credit facility that was scheduled to mature in April 2012 and provides further strength to the company's liquidity position. The facility may be used for general corporate purposes and will mature in April 2016.
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Borders reports operating loss
New York City -- Borders on Friday reported a loss of $24.3 million for the month ended March 26, according to court papers, Bloomberg said.
The company’s most recent financial report filed before Friday showed a loss of $479.9 million for the year ended Jan. 29, on revenue of $1.67 billion.
The current report shows revenue of $165.2 million for the month ended March 26 and total assets of $942.2 million. Cash and equivalents are $80.9 million.
