By  on April 29, 2013

J.C. Penney Co. Inc. calmed a lot of jittery nerves Monday with a new $1.75 billion loan from Goldman Sachs, but the troubled retailer still has a ragged path going forward.

The five-year senior secured term loan facility was much larger than the $1 billion in funding many were expecting and will give Myron “Mike” Ullman 3rd, on his second tour as chief executive officer, more time to try to rebuild the company’s base.

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