©Reuters.
BRENTWOOD, Tenn. – CoreCivic, Inc. (NYSE: NYSE:), a diversified government solutions company, announced its intention to issue up to $450 million in senior notes due 2029. These notes will be unsecured obligations and will be guaranteed by CoreCivic's subsidiaries. Backs up existing senior secured credit facilities and other senior unsecured notes.
The Company intends to use the net proceeds from this offering and other available funds to finance a cash tender offer of 8.25% Senior Unsecured Notes due 2026. The remaining 2026 bonds after the tender offer may also be redeemed, including the amount due. The total of insurance premiums, accrued interest, and related expenses.
Citizens JMP Securities, LLC is acting as the lead manager for this offering. StoneX Financial Inc., FHN Financial Securities Corp., Wedbush Securities Inc. and TCBI Securities, Inc. are also participating in the underwriting process.
The offering is being made through a shelf registration statement filed with the SEC, effective March 4, 2024. The notes are offered by a prospectus supplement and accompanying prospectus, details of which will be available on the SEC's website.
CoreCivic is known for its correctional, detention and reentry facilities, and also offers a variety of government real estate solutions. The company focuses on contributing to the public interest and maintaining high standards of professionalism.
This announcement regarding the proposed offering contains forward-looking statements that are subject to change based on market conditions and other factors that may affect the completion of the offering and the use of proceeds.
CoreCivic clarifies that this press release does not constitute an offer to sell or a solicitation of an offer to buy any securities mentioned. The information contained is based on the press release.
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