CoreCivic to price $400 million five-year notes on Wednesday

By Rebecca Melvin

Concord, N.H., April 7 – CoreCivic, Inc. plans to price $400 million of five-year senior notes (BB-) in an offering on Wednesday trade, according to market sources.

A significant portion of the proceeds will be used to redeem all $250 million of its outstanding 5% notes due 2022, including payment of the make-whole amount plus accrued interest and for additional debt reduction, which may include repurchasing or redeeming a portion of its $350 million principal amount of 4 5/8% notes due 2023. Remaining proceeds are for general corporate purposes, according to a company release.

Imperial Capital is left lead underwriter and StoneX Financial Inc. is a joint bookrunner of the registered deal with Wedbush Securities Inc. acting as co-manager of the offer.

The operator of privatized correctional and detention facilities is based in Nashville, Tenn.

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