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JCPENNEY REDEEMS DEBENTURES

 DALLAS, April 29 /PRNewswire/ -- J.C. Penney Company, Inc. (NYSE: JCP), announced today it is calling for redemption $350 million aggregate principal amount of its outstanding sinking fund debentures.
 The two issues of sinking fund debentures being called for full redemption, and their applicable redemption prices as a percent of the principal amount, are: the 9-3/8 percent issue due 2016, 106.094 percent, and the 9 percent issue due 2016, 103.5 percent. In addition, accrued interest will be paid to the redemption date, June 3, 1993.
 To receive the redemption payment, certificates for the debentures must be surrendered to Chemical Bank, New York, the paying agent for the debentures. Questions concerning the redemption should be directed to Chemical Bank at 800-232-3110.
 JCPenney is a major retailer, and the dominant portion of its business consists of providing merchandise and services to consumers through stores, including catalog operations. JCPenney markets predominantly family apparel, shoes, jewelry, accessories, and home furnishings.
 -0- 4/29/93
 /CONTACT: Duncan Muir of JCPenney, 214-431-1329/
 (JCP)


CO: J.C. Penney Company, Inc. ST: Texas IN: REA SU:

GK -- NY026 -- 2484 04/29/93 09:20 EDT
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Publication:PR Newswire
Date:Apr 29, 1993
Words:190
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