CoreCivic, Inc. 8-K

What Happened

• On April 10, 2026 CoreCivic, Inc. filed an 8-K reporting a Second Amendment to its Fourth Amended and Restated Credit Agreement and obtained a $100 million incremental term loan from existing lenders. The amendment leaves the original Initial Term Loan and Revolver terms unchanged and increases the Amended Credit Facility to $800 million in aggregate principal.

Key Details

• Incremental Term Loan: $100 million, prepayable without penalty, matures 364 days after April 10, 2026.
• Amended Credit Facility total: $800 million consisting of a $125M Initial Term Loan, the $100M Incremental Term Loan, and a $575M Revolving Credit Facility (with $25M swingline and $100M letter-of-credit sublimits).
• Pricing: Incremental loan bears an applicable margin 25 basis points higher than the margin for the Initial Term Loan and Revolver; the margin floats based on CoreCivic’s consolidated total leverage ratio.
• Use of proceeds: Company expects to use the incremental loan to pay down part of the Revolver and for working capital and general corporate purposes.

Why It Matters

• The transaction provides near-term liquidity and borrowing flexibility by adding $100M of term financing and increasing the facility to $800M, which can reduce short-term revolver draws.
• The incremental loan is short-term (364 days) and slightly more expensive (25 bps) than existing debt, so it appears intended as temporary/bridge financing rather than a long-term restructure.
• No other terms of the Initial Term Loan or Revolver were changed, and lenders to the facility are existing counterparties; investors should view this as a financing update affecting CoreCivic’s debt profile and short-term liquidity.