CoreCivic Prices Offering of Senior Unsecured Notes
October 11 2017 - 5:47PM
CoreCivic, Inc.
(NYSE:CXW) (“CoreCivic”)
announced today the pricing of its offering of $250,000,000
aggregate principal amount of senior unsecured notes due 2027 (the
“Notes”). The Notes will have a yield to maturity of 4.75%. The
sale of the Notes, which is subject to customary closing
conditions, is expected to be completed on October 13, 2017.
CoreCivic intends to use substantially all of the net proceeds from
the offering to repay a portion of the borrowings outstanding under
its revolving credit facility and to pay related fees and expenses,
and to the extent not used for the foregoing purposes, for working
capital and other general corporate purposes, which may include
investments.
BofA Merrill Lynch, J.P. Morgan Securities LLC, SunTrust
Robinson Humphrey, Inc., PNC Capital Markets LLC and Regions
Securities LLC are acting as joint book running managers for the
offering. Citizens Capital Markets, Inc. and FTN Financial
Securities Corp. are acting as co-managers for the offering.
The Notes are being offered pursuant to CoreCivic’s existing
automatic shelf registration statement on Form S-3 and amendment
thereto, each of which became effective upon filing with the
Securities and Exchange Commission. A preliminary prospectus
supplement describing the terms of the offering has been filed with
the Securities and Exchange Commission and is available at
www.sec.gov. The offering may be made only by means of a prospectus
supplement and the accompanying prospectus. Copies of the
preliminary prospectus supplement and accompanying prospectus, and
when available, the final prospectus supplement and accompanying
prospectus, relating to this offering may be obtained at BofA
Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte, NC 28255-0001, Attn: Prospectus Department, or by
email at dg.prospectus_requests@baml.com.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
Notes in any jurisdiction in which such offer, solicitation or sale
would be unlawful.
This press release includes forward-looking statements regarding
CoreCivic’s intention to issue the Notes and its intended use of
the net proceeds. These forward-looking statements may be affected
by risks and uncertainties in CoreCivic’s business and market
conditions. This information is qualified in its entirety by
cautionary statements and risk factor disclosures contained in
CoreCivic’s Securities and Exchange Commission filings, including
CoreCivic’s reports on Form 10-K and Form 10-Q filed with the
Commission, as well as the risks identified in the preliminary
prospectus supplement and the accompanying prospectus relating to
the offering. CoreCivic wishes to caution readers that certain
important factors may have affected and could in the future affect
CoreCivic’s actual results and could cause CoreCivic’s actual
results for subsequent periods to differ materially from those
expressed in any forward-looking statement made by or on behalf of
CoreCivic, including the risks that the offering of the Notes
cannot be successfully completed. CoreCivic undertakes no
obligation to update forward-looking statements to reflect events
or circumstances after the date hereof.
About CoreCivic
CoreCivic is a diversified government solutions company with the
scale and experience needed to solve tough government challenges in
cost-effective ways. We provide a broad range of solutions to
government partners that serve the public good through high-quality
corrections and detention management, innovative and cost-saving
government real estate solutions, and a growing network of
residential reentry centers to help address America’s recidivism
crisis. We are a publicly traded real estate investment trust
(REIT) and the nation’s largest owner of partnership correctional,
detention and residential reentry facilities. CoreCivic has been a
flexible and dependable partner for government for more than 30
years. Our employees are driven by a deep sense of service, high
standards of professionalism and a responsibility to help
government better the public good.
Contact: Investors: Cameron Hopewell - Managing Director,
Investor Relations - (615) 263-3024
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