Prison-Food Vendor TKC Seeks to Reprice Loan Amid Backlash

Prison-food vendor TKC Holdings Inc. is looking to cut interest costs on an almost $500 million loan as investors grow increasingly hesitant to fund companies that profit from mass incarceration.

The firm, which is owned by private equity firm HIG Capital, is seeking to lower the interest rate on the loan by 50 basis points from a current level of 5.5 percentage points over the Secured Overnight Financing Rate, according to people with knowledge of the matter who asked not to be identified because the information is private. Jefferies Financial Group Inc. is leading the sale and an investor ...