Private Prison Operator Geo Taps Loan Market in Refinancing Move [BNN Bloomberg (Canada)]
CoreCivic, Inc. (CXW)
Last corecivic, inc. earnings: 2/12 04:15 pm
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Source: BNN Bloomberg
move that follows in the footsteps of a competitor who did the same just weeks ago. The Boca Raton, Florida-based company is looking to raise a total of $1.6 billion in secured and unsecured financing to repay its term loans, revolving-credit facility and a handful of notes that mature between 2026 and 2028, it said in a statement. On the new leveraged loan, the company is offering a semi-rare call structure that will pay back investors at 102 cents on the dollar, a feature that has been included in a handful of recent, riskier deals. Citizens JMP Securities is leading the transaction and a lender call will be held Monday at 2 p.m. New York time. Private prison operators like Geo Group have had a hard time accessing capital markets in recent years as investors shun the business due to environmental, social and governance concerns. The companies have recently taken advantage of the hot loan and bond markets to extend their maturities, with CoreCivic Inc. selling $500 million in n
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CXW
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