CoreCivic prepays $250 million term loan credit agreement due 2024

By Rebecca Melvin

Concord, N.H., May 13 – CoreCivic Inc. voluntarily repaid in full the debt outstanding under its $250 million senior secured term loan B facility provided under a Dec. 18, 2019 term loan credit agreement among the company, its lenders and Nomura Corporate Funding Americas, LLC, as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The prepayment was about $124.4 million, including accrued interest, and satisfied all of the company’s outstanding debt obligations under the term loan credit agreement.

The company did not incur prepayment penalties in connection with the repayment of the loan, which had a scheduled maturity of Dec. 18, 2024.

The prepayment was made with cash on hand.

As previously reported, CoreCivic entered into a third amended and restated credit agreement May 12 for a $350 million credit facility, consisting of a $100 million term loan and a $250 million revolving credit facility, which replaced the company’s existing senior secured credit facilities.

CoreCivic is a Nashville-based owner of partnership correctional, detention and residential reentry facilities.

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