Corrections Corp. of America starts roadshow Monday for $150 million seven-year notes

By Paul A. Harris

St. Louis, Mo., April 9 - Corrections Corp. of America will hit the road Monday with an offering of $150 million of seven-year senior secured notes, according to a syndicate source.

The roadshow will conclude April 24.

Lehman Brothers is bookrunner. Co-managers are UBS Warburg, Deutsche Bank Securities Inc. and Societe Generale.

The Rule 144A notes are non-callable for four years.

Proceeds - along with money from a new $695 million credit facility (see story elsewhere in this issue) - will be used to repay bank debt, and for general corporate purposes.

The Nashville-based company owns and operates privatized correctional and detention facilities.

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