(Reuters) - J.C. Penney Co Inc
It was not immediately clear what the exact value of the facility was previously. The company could not be immediately reached for comment. Last week, the value of a Penney credit facility was reported to be $1.75 billion.
"As we enter the second year of our transformation, today's announcement reflects the confidence of our banking group in our long-term strategy and further strengthens our liquidity position as we continue to execute our plan," Chief Financial Officer Ken Hannah said in a statement.
The arrangement of the credit facility was co-led by J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Barclays Capital and Wells Fargo Capital Finance, the company said.
(Reporting by Jessica Wohl in Chicago; Editing by Leslie Adler)