CCA Announces Final Results of Tender Offer for 2017 Notes

CCA Announces Final Results of Tender Offer for 2017 Notes 
NASHVILLE, TN -- (Marketwired) -- 04/18/13 --   CCA (NYSE: CXW) (the
"Company" or "Corrections Corporation of America"), announced today
the expiration and final results of its tender offer to purchase any
and all of its outstanding $465 million aggregate principal amount 7
3/4% Senior Notes due 2017 (the "2017 Notes") and its related consent
solicitation (together, the "Tender Offer and Consent Solicitation").
The Tender Offer and Consent Solicitation was made pursuant to the
Company's Offer to Purchase and Consent Solicitation Statement and
the related Consent and Letter of Transmittal, each dated March 21,
2013 (collectively, the "Offer Documents"), which set forth a more
detailed description of the terms.  
The Tender Offer and Consent Solicitation expired at 11:59 p.m., New
York City time, on April 17, 2013 (the "Expiration Time"). Based on
the information provided by the tender agent for the Tender Offer and
Consent Solicitation, an aggregate principal amount of $315.4
million, or 67.8%, of the 2017 Notes were validly tendered and not
validly withdrawn in the Tender Offer and Consent Solicitation.  
Holders of 2017 Notes that validly tendered as of April 3, 2013 (the
"Early Tender & Consent Date") received $1,050.00 per $1,000
principal amount of purchased 2017 Notes, which included a consent
payment of $30.00 per $1,000 principal amount of 2017 Notes, plus
accrued and unpaid interest up to, but not including, the initial
settlement date of April 4, 2013. Holders of 2017 Notes who validly
tendered their 2017 Notes after the Early Tender & Consent Date but
prior to the Expiration Time received $1,020.00 per $1,000 principal
amount of 2017 Notes, which excludes the consent payment of $30.00
per $1,000 principal amount of 2017 Notes. As previously announced
the Company will redeem all of the remaining 2017 Notes on June 1,
2013 at a price of 103.875% of par plus accrued interest. 
BofA Merrill Lynch, J.P. Morgan, SunTrust Robinson Humphrey, Inc.,
Wells Fargo Securities and PNC Capital Markets LLC acted as dealer
managers and solicitation agents for the Tender Offer and Consent
Solicitation and D.F. King & Co., Inc. acted as information agent and
tender agent for the Tender Offer and Consent Solicitation.
 Requests
for documents may be directed to D.F. King & Co., Inc. at (800)
488-8095 (U.S. toll free), or in writing to 48 Wall Street, New York,
New York 10005. Questions regarding the Tender Offer and Consent
Solicitation may be directed to BofA Merrill Lynch at (888) 292-0070
(toll-free) or (980) 387-3907 (collect). 
This press release is for informational purposes only and is not an
offer to buy or the solicitation of an offer to sell with respect to
any securities. The Tender Offer & Consent Solicitation was made
solely by means of the Offer Documents.  
About CCA  
CCA is the nation's largest owner of partnership correction and
detention facilities and one of the largest prison operators in the
United States, behind only the federal government and three states.
We currently operate 67 facilities, including 51 facilities that we
own or control, with a total design capacity of approximately 92,500
beds in 20 states and the District of Columbia. CCA specializes in
owning, operating and managing prisons and other correctional
facilities and providing inmate residential services for governmental
agencies. In addition to providing the fundamental residential
services relating to inmates, our facilities offer a variety of
rehabilitation and educational programs, including basic education,
religious services, life skills and employment training and substance
abuse treatment.  
Forward-Looking Statements  
This press release contains statements as to the Company's beliefs
and expectations of the outcome of future events that are
forward-looking statements as defined within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from the
statements made. These include, but are not limited to, the risks and
uncertainties associated with: (i) our ability to meet and maintain
REIT qualification tests; (ii) general economic and market
conditions, including the impact governmental budgets can have on our
per diem rates, occupancy and overall utilization; (iii) the
availability of debt and equity financing on terms that are favorable
to us; (iv) fluctuations in our operating results because of, among
other things, changes in occupancy levels, competition, increases in
cost of operations, fluctuations in interest rates and risks of
operations; (v) our ability to obtain and maintain correctional
facility management contracts, including as a result of sufficient
governmental appropriations and as a result of inmate disturbances;
(vi) changes in the privatization of the corrections and detention
industry, the public acceptance of our services, the timing of the
opening of and demand for new prison facilities and the commencement
of new management contracts; (vii) the outcome of California's
realignment program and utilization of out of state private
correctional capacity; and (viii) increases in costs to construct or
expand correctional facilities that exceed original estimates, or the
inability to complete such projects on schedule as a result of
various factors, many of which are beyond our control, such as
weather, labor conditions and material shortages, resulting in
increased construction costs.  
Contact: 
Investors and Analysts: 
Karin Demler
CCA 
(615) 263-3005  
Financial Media: 
David Gutierrez
Dresner Corporate Services 
(312) 780-7204 
 
 
Press spacebar to pause and continue. Press esc to stop.