secwatch.observer — SEC 8-K summary
======================================

Issuer:     CoreCivic, Inc. (CXW)
CIK:        0001070985
Form:       8-K
Filed at:   2023-10-12T23:59:59+00:00
Accession:  0001140361-23-047965
Event type: debt
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CoreCivic enters $400M credit facility, extends maturity to Oct 2028
--------------------------------------------------------------------

- New facility: $125M term loan + $275M revolver (up from $100M term + $250M revolver).
- Maturity extended to October 11, 2028, from May 12, 2026.
- Net borrowings of $33.8M received at closing; revolver undrawn except ~$17.4M in letters of credit.
- Financial covenants modified: total leverage ratio for springing lien raised to 4.25:1, removed $100M limit on cash netting.
- Benchmark switched from BSBY to SOFR; pricing structure maintained with similar margins.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070985/000114036123047965/0001140361-23-047965-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070985/000114036123047965/ef20012359_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-047965

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer