CoreCivic prices $250 million term loan B at Libor plus 450 bps

By Sara Rosenberg

New York, Dec. 12 – CoreCivic Inc. completed syndication of a $250 million five-year term loan B (Ba1/BBB-/BB+) at pricing of Libor plus 450 basis points with a 1% Libor floor and an original issue discount of 95, according to a market source.

Nomura is the lead on the deal.

Proceeds will be used to help redeem 4 1/8% senior notes due 2020 on Jan. 1 and for general corporate purposes.

CoreCivic is a Nashville, Tenn.-based owner of partnership correctional, detention and residential reentry facilities.

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