CoreCivic, Inc. Enters into Second Amendment to Credit Agreement, Securing $100 Million Incremental Term Loan

CoreCivic, Inc. has entered into a Second Amendment to its Fourth Amended and Restated Credit Agreement, securing an additional $100 million through an Incremental Term Loan. This new loan, which is prepayable without penalty, will be used to pay down the outstanding balance under the Revolver and for general corporate purposes. Following this amendment, the total aggregate principal amount of the credit facility is $800 million, comprising a $125 million initial term loan, the new $100 million Incremental Term Loan, and a $575 million revolving credit facility. The Incremental Term Loan matures 364 days after the amendment date and bears interest at a rate 25 basis points above the applicable margin for the Initial Term Loan and Revolver, which is determined by the Company’s consolidated total leverage ratio. The amendment did not alter the terms for the existing Initial Term Loan or Revolver.