CoreCivic Prices Upsized Offering Of $500M 8.25% Senior Notes Due 2029
Portfolio Pulse from Benzinga Newsdesk
CoreCivic has upsized its offering of senior notes to $500 million at 8.25% due in 2029, from the initially announced $450 million. These notes are senior unsecured obligations, guaranteed by CoreCivic's subsidiaries. The net proceeds are expected to be around $490.3 million after expenses.
March 06, 2024 | 6:47 am
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CoreCivic's upsized offering of $500 million senior notes at 8.25% due 2029 indicates a strong demand for the company's debt and a robust financing strategy.
The upsizing of the offering from $450 million to $500 million suggests investor confidence in CoreCivic's financial health and its ability to meet debt obligations. This could lead to a positive short-term impact on CXW's stock price as it reflects the company's strong position in securing financing.
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