J.C. Penney Takes On $400 Million In 2nd-Lien Debt
J.C. Penney is adding $400 million in 8.625% second-lien notes due 2025.
It is using the proceeds mainly for its tender offer for its 2019 and 2020 unsecured notes.
The 2019 and 2020 notes are now essentially dealt with, but I believe the ultimate goal of these moves is to improve J.C. Penney's 2023 secured debt situation.
J.C. Penney will incur around $50 million to $60 million in costs in order to ultimate reduce its 2023 first-lien debt principal by around $340 to $350 million.
I view these moves as being slightly negative for J.C. Penney's stock and slightly positive for its longer-term unsecured debt.
J.C. Penney is adding $400 million in 8.625% second-lien notes due 2025.
It is using the proceeds mainly for its tender offer for its 2019 and 2020 unsecured notes.
The 2019 and 2020 notes are now essentially dealt with, but I believe the ultimate goal of these moves is to improve J.C. Penney's 2023 secured debt situation.
J.C. Penney will incur around $50 million to $60 million in costs in order to ultimate reduce its 2023 first-lien debt principal by around $340 to $350 million.
I view these moves as being slightly negative for J.C. Penney's stock and slightly positive for its longer-term unsecured debt.
Scherzi a parte è un problema ricorrente di questi tempi. Occorre trovare singole occasioni. Oggi ad esempio ho visto un bel segno meno su Mattel 2025.