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barnyarddog

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barnyarddog

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Friday, 05/08/2020 3:54:08 PM

Friday, May 08, 2020 3:54:08 PM

Post# of 43522
Bloomberg reports JC Penney is negotiating a bankruptcy loan with KKR & Co., Ares, Sixth Street Partners & Apollo. According to details reported by BBG, the deal would leave Penney with $500M in cash and a slashed debt burden in exchange for control of the company, which will remain in operation.

https://www.zerohedge.com/markets/jc-penney-strikes-500-million-bankruptcy-financing-deal-expected-file-next-week?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
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