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Corrections Corporation of America Message Board

lmtrack 5 posts  |  Last Activity: Mar 27, 2014 2:44 PM Member since: Aug 4, 1999
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  • Reply to

    anyone know what this refers to?

    by dwatts4827 Mar 27, 2014 2:36 PM
    lmtrack lmtrack Mar 27, 2014 2:44 PM Flag

    17 CFR 240.24B-2

    NONDISCLOSURE OF INFORMATION FILED WITH THE COMMISSION AND WITH ANY EXCHANGE

    {partial extract}

    "Any person filing any registration statement, report, application, statement, correspondence, notice or other document (herein referred to as the material filed) pursuant to the Act may make written objection to the public disclosure of any information contained therein in accordance with the procedure set forth below. The procedure provided in this rule shall be the exclusive means of requesting confidential treatment of information required to be filed under the Act."

    "The person shall omit from material filed the portion thereof which it desires to keep undisclosed (hereinafter called the confidential portion). In lieu thereof, it shall indicate at the appropriate place in the material filed that the confidential portion has been so omitted and filed separately with the Commission."

    H.T.H.

  • Reply to

    Trust Prefered deferrals in Tabernas

    by ethison Feb 22, 2014 12:02 PM
    lmtrack lmtrack Feb 25, 2014 6:21 PM Flag

    Deferral periods? What "deferral periods"?
    It's the 5 year no-call provisions that are expiring.
    "At December 31, 2012, our total investment in Taberna VIII and Taberna IX is approximately $550.0 million which represents both preferred equity and various levels of debt positions. Approximately 87.9% of the investments are in the form of TruPS and TruPS related receivables issued by commercial real estate companies. The typical TruPS instruments are unsecured borrowings with a 30 year maturity and a 5 year no-call provision that prevented prepayments. Beginning in 2012, the no-call provisions for TruPS collateralizing Taberna VIII and Taberna IX started to expire and the TruPS issuers have the option to prepay the instruments on which the no-call provisions have expired. "

  • Reply to

    Taberna

    by hockeyzan Feb 25, 2014 2:52 PM
    lmtrack lmtrack Feb 25, 2014 6:16 PM Flag

    For the most recent numbers, see Table 9 on page 23 of the 10-Q filed with the SEC 2013-11-05.
    Look for this heading:
    "NOTE 9: VARIABLE INTEREST ENTITIES
    "The following table presents the assets and liabilities of our consolidated VIEs as of each respective date. As of September 30, 2013 and December 31, 2012, our consolidated VIEs were: Taberna Preferred Funding VIII, Ltd., or Taberna VIII, Taberna Preferred Funding IX, Ltd, or Taberna IX, RAIT I, RAIT II, Willow Grove and Cherry Hill."

    About all the Taberna specific info you will find is on page 35:
    "Taberna VIII—Taberna VIII has $484.0 million of total collateral at par value, of which $49.3 million is defaulted. The current OC test is failing at 80.9% with an OC trigger of 103.5%. We currently own $40.0 million of the securities that were originally rated investment grade and $93.0 million of the non-investment grade securities issued by this securitization. We do not expect to receive any distributions from this securitization other than our senior management fees for the foreseeable future."

    "Taberna IX—Taberna IX has $517.7 million of total collateral at par value, of which $121.8 million is defaulted. The current OC test is failing at 66.8% with an OC trigger of 105.4%. We currently own $89.0 million of the securities that were originally rated investment grade and $97.5 million of the non-investment grade securities issued by this securitization. We do not expect to receive any distributions from this securitization other than our senior management fees for the foreseeable future."

    page 38:
    "Taberna VIII and Taberna IX securitizations (314,690) (4.48)"
    That's a $314.69 million hit against value, which represents a negative $4.48 per share depression of Book Value Per Share (BVPS) from the two Tabernas.

    When the 10-K for full year 2013 is filed (soon?), more current information might be forthcoming.

    Or not.

  • lmtrack lmtrack Feb 12, 2014 10:10 AM Flag

    "Window length trendline: 28, 30, 24, 16, 21, 26, 28"

    Mean 24.714
    Median 26
    Mode 28
    95% confidence level 4.49
    Standard Deviation 4.855
    Sample Variance 23.57
    Kurtosis .457

    predicted range 20 30 call it 25 ± 5 with 1 outlier

  • Today's issue: 7,475,000 shares at a maximum price of $8.79 yielding at most $65,705,250 $8,463

    Current market price $8.56 on volume of 92,400 shares (10:33 am)

    Property list/from the prospectus dated 2014.01.21:

    Property,location/date acquired/year renovated/units/occupancy rate/average rental $
    Belle Creek/Henderson/Colorado/4.29.2011/2011/162/97.5/932
    Berkshire Square/Indianapolis/Indiana/9.19.2013/2012/354/96.6/580
    Centrepoint/Tucson/Arizona/12.16.2011/2006/320/91.6/817
    Copper Mill/Austin/Texas/4.29.2011/2010/320/95.2/736
    Crestmont/Marietta/Georgia/4.29.2011/2010/228/93.2/708
    Cumberland Glen/Smyrna/Georgia/4.29.2011/2010/222/96.1/668
    Heritage Trace/Newport News/Virginia/4.29./2011/2011/200/89.0/717
    Runaway Bay/Indianapolis/Indiana/10.11.2012/2002/192/94.8/922
    The Crossings/Jackson/Mississippi/11.22.2013/2006/432/96.1/787
    Tresa at Arrowhead/Phoenix/Arizona/4.29.2011/2006/360/94.4/827

CXW
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