Goldman Sachs lines up $1.75 bln JC Penney loan - CNBC

BOSTON, April 26 Fri Apr 26, 2013 3:09pm EDT

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BOSTON, April 26 (Reuters) - Goldman Sachs has arranged a $1.75 billion financing package for retailer J.C. Penney Co , backed by the department store chain's real estate and other assets, CNBC reported on Friday.

Penney shares rose 10.4 percent in late-afternoon trading after the CNBC report. The company could not immediately be reached for comment.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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