Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

February 08, 2016 2:15 PM ET

Multiline Retail

Company Overview of J. C. Penney Corporation, Inc.

Company Overview

J. C. Penney Corporation, Inc. operates departmental stores that offers merchandise and services to consumers. The company also offers catalog retail and e-retailing. It sell family apparel, footwear, accessories, fine and fashion jewelry, and beauty products. The company was founded in 1902 and is based in Plano, Texas. J. C. Penney Corporation, Inc. operates as a subsidiary of J. C. Penney Company, Inc.

6501 Legacy Drive

Plano, TX 75024-3698

United States

Founded in 1902





Key Executives for J. C. Penney Corporation, Inc.

Chief Executive Officer and Director
Age: 68
Senior Vice President, Principal Accounting Officer, and Controller
Age: 62
Vice President of J. C. Penney Corp Inc and Treasurer of J. C. Penney Corp Inc
Compensation as of Fiscal Year 2015.

J. C. Penney Corporation, Inc. Key Developments

J. C. Penney Company, Inc., J. C. Penney Corporation, Inc. and J. C. Penney Purchasing Corporation Enter Amendment No. 1 to Credit Agreement

On December 10, 2015, J. C. Penney Company, Inc. (the Company) and its direct wholly-owned subsidiary, J. C. Penney Corporation, Inc. (Corporation), and indirect wholly-owned subsidiary J. C. Penney Purchasing Corporation (Purchasing) (Company, Corporation and Purchasing collectively referred to as the Loan Parties) entered into an Amendment No. 1 to Credit Agreement to the Credit Agreement, dated as of June 20, 2014, among the Loan Parties, the lenders party thereto, Wells Fargo Bank, National Association, as Administrative Agent, Revolving Agent and Swingline Lender, Bank of America, N.A., as Term Agent, Wells Fargo Bank, National Association and Bank of America, N.A., as Co-Collateral Agents, and Wells Fargo Bank, National Association, as LC Agent. The Amendment increases the size of the revolving line of credit under the Credit Agreement to $2.35 billion from $1.85 billion. In connection therewith, the parties to the Amendment have terminated the arrangements with respect to, and the Loan Parties have repaid the outstanding balance of, the $500 million term loan facility under the Credit Agreement.

J. C. Penney Company, Inc. and J. C. Penney Corporation, Inc. Announces Early Tender Offer Results

J. C. Penney Company, Inc. and J. C. Penney Corporation, Inc., a wholly owned subsidiary of the company (together with the company, 'J. C. Penney'), announced that, pursuant to J. C. Penney's previously announced cash tender offers with respect to the securities, approximately $448 million in aggregate principal amount of Securities was validly tendered and not validly withdrawn on or before the 'early tender date," which was 5:00 p.m., New York City time, on September 22, 2014, according to information provided by D.F. King & Co., Inc., the tender agent for the tender olffers. Because the withdrawal deadline relating to the Tender Offers expired at 5:00 p.m., New York City time, on September 22, 2014, these Securities, as well as any subsequently tendered Securities, may not be withdrawn. J. C. Penney also announced that it has increased the aggregate principal amount of the securities that it is offering to purchase in the tender offers from $300 million to $325 million (as increased, the maximum tender amount) and added tender caps for the 6.875% Medium-Term Notes due 2015 and the 7.65% debentures due 2016. The terms and conditions of the tender offers are described in detail in the offer to purchase, dated as of September 9, 2014, and the accompanying letter of transmittal. In addition, J. C. Penney has determined that the financing condition described in the Offer Documents has been satisfied. All terms and conditions of the tender offers as described in the Offer Documents remain unchanged, except as described in this press release. The tender offers will expire at 11:59 p.m., New York City time, on October 6, 2014, unless J. C. Penney extends the tender offer with respect to any series of securities (such date and time, as a tender offers with respect to a series of securities may be extended, the applicable 'expiration date' for such tender offers), unless earlier terminated. The aggregate principal amount of securities validly tendered at or prior to the applicable expiration date will be purchased, on the terms and subject to the satisfaction or, as applicable, waiver of the conditions to the tender offers, in accordance with their respective acceptance priority levels (acceptance priority levels) in numerical priority order, with the highest priority being designated and the lowest priority being designated  provided that in no event will J. C. Penney be obligated to purchase an aggregate principal amount of Securities exceeding the maximum tender amount or with respect to a series of securities, a principal amount exceeding  the amount. If there are sufficient remaining funds to purchase some, but not all, of the Securities of a particular series based on the applicable Acceptance Priority Level, the principal amount of such securities purchased will be prorated based on the aggregate principal amount of securities of that series, subject, as to a series of securities, its respective tender cap, and, as to all securities,  the maximum tender amount, that have been validly tendered at or prior to the applicable expiration date. Subject to the acceptance priority levels and the maximum tender amount, if the validly tendered securities of a particular series exceeds the tender cap for such series, the principal amount of such securities purchased will be prorated based on the aggregate principal amount of securities of that series validly tendered in the tender offers. Holders of securities who validly tendered (and did not validly withdraw) their securities on or before the early tender date are eligible to receive the applicable total consideration, which includes an early tender premium of $30 per $1,000 principal amount of securities tendered by such holders that are accepted for purchase. Holders of securities who validly tender their securities after the early tender date and on or before the applicable expiration date are eligible to receive the applicable base consideration per $1,000 principal amount of securities tendered by such holders that are accepted for purchase, which is equal to the applicable total consideration minus the early tender premium of $30 per $1,000 principal amount of securities. The total consideration per $1,000 principal amount of securities for the 6.875% medium-term notes due 2015 is $1,067.50,  for the 7.65% debentures due 2016 is $1,105 and for the 7.95% Debentures due 2017 is $1,097.50. Holders whose Securities are accepted for purchase pursuant to the Tender Offers will also receive accrued and unpaid interest on such purchased securities from the last interest payment date for such series of securities up to, but not including, the applicable settlement date for such series of securities. Payment for securities accepted for purchase pursuant to the tender offers will be made promptly after the applicable expiration date.

J.C. Penney Corporation, Inc. Enters into a Commitment letter for $2.35 Billion Senior Secured Asset-Based Revolving Credit and Term Loan Facility

On May 14, 2014, J. C. Penney Corporation, Inc. entered into a commitment letter with Wells Fargo Securities, LLC, Wells Fargo Bank, National Association, Bank of America, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, JPMorgan Chase Bank, N.A., Barclays Bank PLC and Goldman Sachs Bank USA, under which the Commitment Parties have committed, subject to the terms and conditions set in the Commitment Letter, to provide the Corporation with a $2.35 billion senior secured asset-based revolving credit and term loan facility. The Credit Facility will replace the Amended and Restated Credit Agreement, dated as of January 27, 2012. As with the Existing Credit Facility, borrowing availability under the Credit Facility will vary according to the Loan Parties' levels of inventory, credit card receivables and accounts receivable. The Credit Facility is expected to mature five years from the closing date thereof. All borrowings under the Credit Facility will accrue interest at a rate equal to, at the Corporation's option, a base rate or an adjusted LIBOR rate plus a spread. The proceeds of the Credit Facility will be used (a) to repay or refinance all or a portion of the outstanding borrowings under the Existing Credit Facility, (b) to pay costs, expenses and fees in connection with the Credit Facility and other related transactions, and (c) for working capital and general corporate purposes. As of the date hereof, the Company has outstanding loans in the amount of $650 million under the Existing Credit Facility.

Similar Private Companies By Industry

Company Name Region
Casey's Services Company United States
Ameritex, Incorporated United States
Job Odd Trading Corp United States
LotsOff Corp. United States
Hennessy Company United States

Recent Private Companies Transactions

June 22, 2015
Martha Stewart Living Omnimedia, Inc.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact J. C. Penney Corporation, Inc., please visit --. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at