Private Prison Operator GEO Sells $1.28 Billion of Bonds [BNN Bloomberg (Canada)]
CoreCivic, Inc. (CXW)
Last corecivic, inc. earnings: 2/12 04:15 pm
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Source: BNN Bloomberg
The Boca Raton, Florida-based company sold $650 million of senior secured notes due 2029 at par with a 8.625% coupon and $625 million of senior unsecured notes due 2031 at par to yield 10.25%, the people said, asking not to be identified because the information is private. The transaction was upsized from $1.2 billion as the prices came in line with initial expectations. Citizens JMP Securities, which led the transaction, declined to comment. The company is also set to price a $400 million leveraged loan, with commitments from investors due earlier Thursday. Initial price talk on the loan called for 525 basis points above the Secured Overnight Financing Rate at a discount between 98 and 98.5 cents, Bloomberg previously reported. GEO's successful refinancing comes after rival CoreCivic Inc. sold $500 million in notes with an 8.25% coupon to extend its maturities. (Updates with Citizens declining to comment in the third paragraph.) ©2024 Bloomberg L.P.
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CXW
News
- 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
- CoreCivic, Inc. (NYSE:CXW) is a favorite amongst institutional investors who own 87% [Yahoo! Finance]Yahoo! Finance
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