CoreCivic Sells Two Detention Facilities
CoreCivic completed the sale of its California City and Otay Mesa detention facilities to the U.S. government for an aggregate gross price of $1.5 billion, resulting in approximately $1.1 billion in net proceeds after taxes and expenses. The company intends to use the proceeds to repay roughly $716 million in debt, including its entire bank credit facility and a portion of its 4.75% senior notes due 2027.
Key figures
- Deal Value Usd
- 1500000000
- Net proceeds
- 1100000000
- Otay mesa beds
- 1994
- Otay mesa price
- 739200000
- California city beds
- 2560
- Debt repayment notes
- 238500000
- California city price
- 732600000
- Debt repayment revolving
- 270000000
- Debt repayment term loan
- 107800000
- Debt repayment incremental term
- 100000000
AI analysis
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