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CoreCivic readies launch of $250 million term loan B for Tuesday
By Sara Rosenberg
New York, May 29 – CoreCivic Inc. is scheduled to hold a bank meeting at 10 a.m. ET on Tuesday to launch a $250 million seven-year covenant-lite term loan B, according to a market source.
Citizens Bank, SunTrust Robinson Humphrey Inc. and PNC Bank are the bookrunners on the deal and joint lead arrangers with Regions Bank.
The term loan B has 101 soft call protection for six months, the source said.
Proceeds will be used to refinance revolving credit facility borrowings and add cash to the balance sheet.
CoreCivic is a Nashville, Tenn.-based owner of partnership correctional, detention and residential reentry facilities.
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