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16 Things You Need to Know This Morning

16 Things You Need to Know This Morning
JC Penney Refinances $2.35B Loan
To Gain More Financial Flexibility
After announcing plans in March to close more than 130 stores, JC Penney is seeking to give itself some breathing room amid a difficult retail climate. The retailer refinanced a $2.35B asset-based revolving loan, extending the maturity from 2019 to 2022. It plans to use the money to fund seasonal peaks in cash needs or for general corporate purposes. 

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