Prison Operator CoreCivic Looks to Raise $450 Million in Junk Bond Market [BNN Bloomberg (Canada)]
CoreCivic, Inc. (CXW)
Last corecivic, inc. earnings: 2/12 04:15 pm
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US:NYSE Investor Relations:
ir.corecivic.com/investor-relations
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Source: BNN Bloomberg
The Nashville, Tennessee-based firm is selling $450 million of BB- rated notes due 2029, according to a Monday announcement. CoreCivic plans to use the sale proceeds, along with cash on hand and borrowings under its revolving credit facility, to buy back its 8.25% senior notes due 2026 and redeem any of those notes that remain outstanding. An investor call was scheduled for 3 p.m. New York time. Citizens JMP Securities is leading the debt offering, which is expected to price on March 5. Citizens didn't reply to a request for comment. CoreCivic's 8.25% notes last changed hands at 103 cents on the dollar, according to Trace. About $593 million of the obligations remain outstanding, data compiled by Bloomberg shows. The company stated separately that it's offering $1043.75 to the 2026 note holders for each $1000 principal amount of the notes. The tender offer is set to expire at 5 p.m. New York City time on March 11. CoreCivic's shares have rallied by about 48% over the past yea
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News
- CoreCivic, Inc. (NYSE: CXW) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- The total return for CoreCivic (NYSE:CXW) investors has risen faster than earnings growth over the last three years [Yahoo! Finance]Yahoo! Finance
- CoreCivic, Inc. (NYSE: CXW) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- CoreCivic Announces 2024 First Quarter Earnings Release and Conference Call DatesGlobeNewswire
- CoreCivic, Inc. (NYSE: CXW) had its price target raised by analysts at Wedbush from $18.00 to $19.00. They now have an "outperform" rating on the stock.MarketBeat
CXW
Earnings
- 2/7/24 - Beat
CXW
Sec Filings
- 3/28/24 - Form ARS
- 3/28/24 - Form DEFA14A
- 3/28/24 - Form DEF
- CXW's page on the SEC website