J.C. Penney borrows $850 million to boost inventory
Reuters - 04/15/2013
In drawing the funds, J.C. Penney is taking advantage of the money while it remained available, since banks could reduce the next credit line, said Harlan Platt, a finance professor at Northeastern University.
“If they had not drawn down the money, it would have come down on its own; they would have lost the availability,” Platt said. “You always want to stock up while it’s there.”