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.