Long-Term Debt
 6 Months Ended
Jul. 30, 2011
Long-Term Debt Disclosure [Abstract]  
Long-Term Debt

 

Note 4 – Long-Term Debt 

 

During the first half of 2011, there were no scheduled debt maturities or issuances of debt.

 

During the first half of 2010, we had the following debt issuance and debt reductions:

 

Debt Issuance

On May 24, 2010, we closed on our offering of $400 million aggregate principal amount of 5.65% Senior Notes due 2020 and used proceeds of the offering, net of underwriting discounts, of approximately $392 million to make a voluntary cash contribution to the J. C. Penney Corporation, Inc. Pension Plan.   

 

Debt Reductions

On May 24, 2010, we accepted for purchase $300 million principal amount of JCP's outstanding 6.375% Senior Notes due 2036 (2036 Notes), which were validly tendered pursuant to a cash tender offer. We paid approximately $314 million aggregate consideration, including accrued and unpaid interest, for the accepted 2036 Notes on May 25, 2010.  

 

On March 1, 2010 we repaid at maturity the $393 million outstanding principal amount of JCP's 8.0% Notes due 2010.