CoreCivic to Redeem 8.250% Senior Notes Due 2026
March 15 2024 - 4:15PM
CoreCivic, Inc. (NYSE: CXW) (“CoreCivic”) announced today that it
is delivering an irrevocable notice to the holders of all of
CoreCivic’s previously issued $675,000,000 original aggregate
principal amount of 8.250% senior unsecured notes due 2026 (the
“2026 Notes”) that CoreCivic has elected to redeem in full the 2026
Notes that remain outstanding on April 15, 2024 (the “Redemption
Date”). The 2026 Notes were otherwise scheduled to mature on April
15, 2026. The 2026 Notes will be redeemed at a redemption price
equal to 104.125% of the principal amount of the then outstanding
2026 Notes, plus accrued and unpaid interest on such 2026 Notes to,
but not including, the Redemption Date (the “Redemption Price”). As
of March 15, 2024, the principal amount of the outstanding 2024
Notes was $98,774,000. CoreCivic intends to use a combination of
cash on hand and available capacity under its revolving credit
facility to fund the Redemption Price.
This press release shall not constitute a notice of redemption
of the 2026 Notes.
About CoreCivicCoreCivic is a diversified,
government-solutions company with the scale and experience needed
to solve tough government challenges in flexible, cost-effective
ways. CoreCivic provides a broad range of solutions to government
partners that serve the public good through high-quality
corrections and detention management, a network of residential and
non-residential alternatives to incarceration to help address
America’s recidivism crisis, and government real estate solutions.
CoreCivic is the nation’s largest owner of partnership
correctional, detention and residential reentry facilities, and one
of the largest prison operators in the United States. CoreCivic has
been a flexible and dependable partner for government for 40 years.
CoreCivic’s employees are driven by a deep sense of service, high
standards of professionalism and a responsibility to help
government better the public good. Learn more at
www.corecivic.com.
Cautionary Note Regarding Forward-Looking
StatementsThis press release includes forward-looking
statements including statements regarding CoreCivic’s redemption of
the 2026 Notes and its funding of the Redemption Price. These
forward-looking statements may include words such as “anticipate,”
“estimate,” “expect,” “project,” “plan,” “intend,” “believe,”
“may,” “will,” “should,” “can have,” “likely,” and other words and
terms of similar meaning in connection with any discussion of the
timing or nature of future operating or financial performance or
other events. Such forward-looking statements may be affected by
risks and uncertainties in CoreCivic’s business and market
conditions. These forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ
materially from the statements made. Important factors that could
cause actual results to differ are described in the filings made
from time to time by CoreCivic with the U.S. Securities and
Exchange Commission (the “SEC”) and include the risk factors
described in CoreCivic’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2023, filed with the SEC on February 20,
2024. Except as required by applicable law, CoreCivic undertakes no
obligation to update forward-looking statements made by it to
reflect events or circumstances occurring after the date hereof or
the occurrence of unanticipated events.
Contact: |
|
Investors: Mike Grant - Managing Director, Investor Relations -
(615) 263-6957 |
Financial Media: David Gutierrez, Dresner Corporate Services -
(312) 780-7204 |
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