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Long-Term Debt
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9 Months Ended |
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Oct. 29, 2011
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| Long-Term Debt Disclosure [Abstract] | |
| Long-Term Debt |
Note 5 – Long-Term Debt
During the nine months ended October 29, 2011, there were no debt issuances or debt reductions. During the nine months ended October 30, 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.
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