Bondholders for Struggling Detention Center Bet on ICE Bailout

Investors in a bond-funded detention center in southern Arizona are at risk of not being paid in May as they give its operator more time to negotiate with the Trump administration to boost occupancy.

The privately-run San Luis Regional Detention Center, which holds inmates for US Immigration and Customs Enforcement and the US Marshals Service, generates revenue based on the number of detainees. A drop in its population has left its operator, LaSalle Corrections, struggling financially and facing $400,000 a month in losses. In November court documents, the company said it racked up $4.4 million of unreimbursed costs ...