The GEO Group prices senior notes offering and new term loan (NYSE:GEO)
Press Room
The GEO Group (NYSE:GEO) on Thursday said it has priced a private offering of $1.275B aggregate principal amount of senior notes, comprised of $650M aggregate principal amount of 8.625% senior secured notes due 2029 and $625M aggregate principal amount of 10.25% senior unsecured notes due 2031.
The offering of the notes is expected to close on April 18.
GEO also announced that it has priced a new $450 million Term Loan B, bearing interest at SOFR plus 5.25%, under a new senior secured credit facility, which is expected to close on April 18.
The offering of the notes and the new term loan are expected to result in net proceeds of about $1.67 billion.
