Over the years.. JCP did tender offers on many notes.. Given example
(1)...J. C. Penney Company, Inc. (NYSE: JCP) (the ?Company?) announced today that it and its wholly owned subsidiary, J. C. Penney Corporation, Inc. (?Corporation?), have accepted for purchase $300,000,000 principal amount of Corporation's outstanding debt securities, which were validly tendered pursuant to the previously announced cash tender offer to purchase up to $300,000,000 aggregate principal amount of such debt securities. The offer expired at 11:59 p.m., EDT, on May 21, 2010, and as of the expiration date, $614,108,000 principal amount of the Acceptance Priority Level 1 6.375% Senior Notes due 2036 were tendered.
(2).... ("JCP," and together with the Company, "J. C. Penney"), as issuer of the Notes, announced today early results of JCP's previously announced cash tender offer for its outstanding 7 1/8% Debentures Due 2023 (CUSIP No. 708160 BE5) (the "Notes")
As of 5:00 p.m., New York City time, on May 20, 2013 (the "Consent Expiration"), $242,782,000 in aggregate principal amount of the Notes, representing 95.41% of the outstanding principal amount of the Notes had been validly tendered and not validly withdrawn in the tender offer.
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J. C. Penney Announces Successful Early Tender Offer Results and Increases Tender Caps
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March 22, 2018 06:55 ET | Source: J. C. Penney Company, Inc.
PLANO, Texas (March 22, 2018) -- J. C. Penney Company, Inc. (NYSE: JCP) (the "Company") 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 (collectively, the "Tender Offers") with respect to the securities described in the table below (collectively, the "Securities"), the principal amounts of Securities that were validly tendered and not validly withdrawn on or before 5:00 p.m., New York City time, on March 21, 2018 (the "Early Tender Date"), according to information provided by D.F. King & Co., Inc., the tender agent for the Tender Offers, and the principal amounts of Securities to be accepted for purchase by J. C. Penney in accordance with the terms of the Tender Offers, are as set forth in the table below. Because the withdrawal deadline relating to the Tender Offers expired at 5:00 p.m., New York City time, on March 21, 2018, these Securities, as well as any subsequently tendered Securities, may not be withdrawn.
J. C. Penney also announced that it has increased the tender cap for the 8.125% Senior Notes due 2019 from $95 million to $125 million and the tender cap for the 5.65% Senior Notes due 2020 from $225 million to $250 million (as increased, the "Tender Caps").
The terms and conditions of the Tender Offers are described in detail in the Offer to Purchase, dated as of March 8, 2018 (the "Offer to Purchase"), and the accompanying Letter of Transmittal (together, the "Offer Documents"). J. C. Penney has determined that the financing condition described in the Offer Documents has been satisfied. Holders are encouraged to read the Offer Documents carefully.
Title of Security
CUSIP Number
Principal Amount Outstanding
Tender Cap
Principal Amount Tendered
Percentage of Outstanding Amount Tendered
Principal Amount to be Accepted for Purchase
8.125% Senior Notes due 2019 708160CA2 $175,000,000 $125,000,000 $158,118,000 90.35% $125,000,000
5.65% Senior Notes due 2020 708130AD1 $360,006,000 $250,000,000 $252,736,000 70.20% $250,000,000
Holders of Securities who validly tendered (and did not validly withdraw) their Securities on or before the Early Tender Date are eligible to receive, for each $1,000 principal amount of Securities, (i) $1,080.50 for the 8.125% Senior Notes due 2019 and (ii) $1,040.00 for the 5.65% Senior Notes due 2020, which in each case includes an early tender premium of $30 per $1,000 principal amount of Securities tendered by such holders that are accepted for purchase. 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 settlement date for such series of Securities. Payment for Securities accepted for purchase pursuant to the Tender Offers will be made on the settlement date, which is expected to be today, March 22, 2018.
