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J.C. Penney buys back $300M in debt

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Plano, Texas J.C. Penney Co. has completed the buyback of $300 million in debt.

The company bought back $300 million in senior notes due to expire in 2036. A total of $614 million was tendered before Friday's expiration date.

J.C. Penney announced the tender offer April 26. It was completed for $314 million, which will be paid out Tuesday.

Holders of debt will receive $1,040 per $1,000 in debt securities.

Separately, J.C. Penney on Monday started an offer of $400 million in notes.

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