BRENTWOOD, Tenn. - CoreCivic, Inc. (NYSE: NYSE:CXW), a diversified government solutions company, announced its intention to offer up to $450 million of senior notes due 2029. These notes will be unsecured obligations, guaranteed by CoreCivic's subsidiaries that also back its existing senior secured credit facilities and other senior unsecured notes.
The company aims to use the net proceeds from this offering, along with other available funds, to finance the cash tender offer for its 8.25% senior unsecured notes due 2026. Any remaining 2026 notes after the tender offer may also be redeemed, including the payment of premiums, accrued interest, and related expenses.
Citizens JMP Securities, LLC will serve as the lead underwriter 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 made possible through a shelf registration statement filed with the SEC, effective as of March 4, 2024. The notes are being offered by prospectus supplement and accompanying prospectus, details of which will be available on the SEC's website.
CoreCivic is known for its correctional, detention, and residential reentry facilities, and also offers a variety of government real estate solutions. The company emphasizes its commitment to serving the public good and maintaining high standards of professionalism.
This announcement of the proposed offering contains forward-looking statements, which are subject to market conditions and other factors that could influence the completion of the offering and the use of proceeds.
CoreCivic has made it clear that this press release does not constitute an offer to sell or a solicitation of an offer to buy the securities mentioned. The information provided is based on a press release statement.
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