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CoreCivic prices $250M debt offering

CoreCivic Inc. priced a $250.0 million offering of senior unsecured notes due 2027, with the notes to have a 4.75% yield to maturity.

The company plans to use substantially the entire net proceeds for the partial repayment of borrowings outstanding under its revolving credit facility, with the remaining funds going toward working capital and other general corporate purposes.

BofA Merrill Lynch, J.P. Morgan Securities LLC, SunTrust Robinson Humphrey Inc., PNC Capital Markets LLC and Regions Securities LLC are the joint book-running managers, while Citizens Capital Markets Inc. and FTN Financial Securities Corp. are the co-managers for the offering, which is expected to close Oct. 13.