PLANO, Texas, April 27 (UPI) -- J.C. Penney Co. is close to securing a $1.75 billion loan that would be secured by the U.S. department store chain's property, The Wall Street Journal reported.
Persons familiar with the deal said the company would pledge a "significant" portion of its property to secure the loan, which is being handled by Goldman Sachs Group Inc. The loan would be due in five years, the Journal said.