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CoreCivic Enters Into Amended and Restated Senior Credit Facility

CoreCivic, Inc. (CXW) 
Last corecivic, inc. earnings: 2/12 04:15 pm Check Earnings Report
US:NYSE Investor Relations: ir.corecivic.com/investor-relations
Company Research Source: GlobeNewswire
NASHVILLE, Tenn., April 18, 2018 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE:CXW) (the “Company") announced today that on April 17, 2018, CoreCivic entered into an Amended and Restated Credit Agreement (the "New Credit Agreement") in an aggregate principal amount of up to $1.0 billion, replacing the Company’s existing $900.0 million revolving credit facility and term loan, which had an outstanding balance of $82.5 million as of March 31, 2018 (collectively, the "Existing Credit Facility").  The New Credit Agreement provides for a term loan of $200.0 million and a revolving credit facility in an aggregate principal amount of up to $800.0 million.  The New Credit Agreement, among other things, extends the maturity of the Existing Credit Facility from July 2020 to April 2023, and increases the total leverage covenant of the Existing Credit Facility from 5.0x to 5.5x.  The New Credit Agreement also contains an "accordion" feature that provides for uncommitted incremental extensions of cr Show less Read more
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