Gov. Kay Ivey said the state would continue to pursue a multi-billion dollar prison construction project despite the loss of two financiers ahead of a bond issue.
Bloomberg reported Monday that Barclays pulled out from underwriting bonds for two prisons planned by Tennessee-based CoreCivic, amid criticism that the bank was breaking a promise to stop supporting for-profit prison companies.
“While our objective was to enable the state to improve its facilities, we recognize that this is a complex and important issue,” Barclays said in a statement sent to The Advertiser on Monday. “In light of the feedback that we have heard, we will continue to review our policies.”
Barclays Drops Prison Bond Deal at Last Minute After Furor msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.