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CoreCivic to move ahead on Alabama prison bonds after losing underwriters Reuters 2 hrs ago
By Karen Pierog and Ross Kerber
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April 19 (Reuters) - U.S. private prison operator CoreCivic Inc said on Monday it expects to move forward with a bond sale for Alabama prisons after two of three underwriters dropped out of the deal, which had come under attack by social justice activists.
Barclays Plc, the senior underwriter for the taxable bond deal originally sized at $633.5 million, and KeyBanc Capital Markets, a co-manager, confirmed they were no longer participating in the bond pricing in the U.S. municipal market.