Latham & Watkins Advises on CoreCivic’s Upsized US$500 Million Senior Notes Offering and Tender Offer for 2026 Notes

CoreCivic, Inc. (NYSE: CXW) (CoreCivic) has announced it has completed the previously announced underwritten registered public offering of US$500 million aggregate principal amount of 8.250% senior notes due 2029 (the Notes). The Notes are senior unsecured obligations of CoreCivic and are guaranteed by all of its subsidiaries that guarantee CoreCivic’s senior secured credit facilities, the US$243.1 million outstanding aggregate principal amount of its 4.750% senior unsecured notes due October 2027, with an original aggregate principal amount of US$250 million, and 8.250% senior unsecured notes due 2026 (the 2026 Notes). The aggregate net proceeds from the sale of the Notes are expected to be approximately US$490.3 million, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses. CoreCivic also announced the expiration and results of its previously announced cash tender offer for any and all of the 2026 Notes, which expired at 5:00 p.m., New York City time, on March 11, 2024.

Latham & Watkins LLP represented the underwriters in the transaction with a corporate deal team led by Century City partner Lewis Kneib, with associates Catherine Shaw, Caitlin Nguyen, and Erik Jensen, and the dealer managers in the tender offer with a deal team led by Los Angeles partner Arash Aminian Baghai, with associate Andrew Bentz. Advice was also provided on tax matters by Century City partner Ana O’Brien and Century City counsel Will Kessler, with associate Joe Marcus.