A New Credit Facility....Friday, CoreCivic reported it had entered into a New Credit Agreement effectively replacing the Company’s existing senior secured credit facilities. As of March 31st, CoreCivic had $167.5 million due April 2023 under its Term Loan A and $124 million due December 2024 under its Term Loan B outstanding under the old facility. Management indicated the possibility of repaying the Term Loan A out of existing cash once a new facility was in place....Equals Time for a Stock Buyback. Management has stated on numerous occasions that once a new credit facility was in place, authorization for a stock buyback program would be submitted to the Board. Given where the stock is currently trading and the strong, stable cash flow generation of the business, we believe the Board will grant such request. We believe a program in the $100 million range, or about 7.5% of the current market cap, would send a strong signal to the market. Read More >>