Prison real estate investment trust CoreCivic Inc. is proposing a $250 million senior secured term loan due 2026.
The net proceeds will go toward repaying about $214 million of outstanding debt under the REIT's revolving credit facility, as well as for general corporate purposes, according to S&P Global Ratings.
The rating agency assigned a BBB- issue-level rating to the proposed term loan, with a recovery rating of 1.
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