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J.C. Penney increased credit facility

BY Staff Writer

New York — J. C. Penney Co boosted its borrowing capacity under a bank credit facility by $100 million to $1.85 billion and expanded an option to borrow more at a later date.

"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," J.C. Penny CFO Ken Hannah said in a statement.

The new arrangements included a $150 million increase in the credit facility’s accordion feature to $400 million and a $250 million increase in an additional feature, analysts said. An accordion feature allows a borrower to expand a credit facility at a later date.

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Fiserv, Alliance Data partner to offer e-bill distribution

BY CSA STAFF

BROOKFIELD, Wis. —Fiserv, a global provider of financial services technology solutions, has partnered with Alliance Data Retail Services, a provider of branded credit card programs, to offer e-bill distribution to cardholders of its more than 100 credit programs. This service is designed to provide consumers with increased control over bill payments, as well as the added convenience of viewing and paying bills electronically via 3,800 financial institutions that are part of the Fiserv bill payment network.

Electronic bills, commonly known as e-bills, contain all of the same information as traditional paper bills, but are delivered to a financial institution website instead of a physical mailbox. E-bills are secure, convenient and clutter-free, enabling consumers to receive and store bills online at the same site where they are paid. Recipients can schedule a specific date on which their bill will be paid and take advantage of features such as email reminders. The Fiserv e-bill distribution service provides Alliance Data customers with another electronic statementing option in addition to Alliance Data’s existing online account management center, providing an alternative to its millions of cardholders.

“We are excited about partnering with Fiserv to offer e-bill distribution to our valued cardholders,” said Dan Finkelman, Alliance Data Retail Services chief marketing officer. “We are committed to delivering relevant services as well as an array of choices that appeal to our customers. This offering further extends our delivery via the online channel to provide an easy and convenient experience for our cardholders.”

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Amazon expands on-demand video offerings

BY CSA STAFF

NEW YORK and SEATTLE— Amazon.comhas expanded its content licensing agreement with CBS Corp. to bring classic series and hit TV shows from CBS Television Distribution and Showtime Networks to Amazon’s Prime Instant Video service, extending the already vast catalog of CBS content available for Prime members to instantly stream, and enjoy at no additional cost.

With this agreement, popular CBS and Showtime series coming to Prime Instant Video for the first time include "America’s Next Top Model," "Everybody Loves Raymond," "Jericho," ‘The L Word," "Undercover Boss" and "United States of Tara," among others.

“CBS was one of our earliest content partners for Prime Instant Video and our Prime customers have consistently told us how much they love having access to great CBS and Showtime shows,” said Brad Beale, director digital video content acquisition for Amazon. “Adding a wider selection of great TV series, while extending our already popular selection of CBS programming, continues to make Prime an even better deal for customers – and we love that.”

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