Cornell Cos. to repay bank debt with some bond sale proceeds

By Sara Rosenberg

New York, June 4 - Cornell Cos. Inc. plans to repay debt under its senior credit facility and synthetic lease with proceeds from a proposed $110 million senior unsecured notes offering, according to a company news release.

Remaining proceeds from the bond deal will be used for general corporate purposes, which may include acquisitions.

Cornell is a Houston private provider of corrections, treatment and educational services outsourced by governmental agencies.

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