GEO Group To Issue $1.2 Bln Aggregate Principal Amount Of Senior Notes - Quick Facts

(RTTNews) - The GEO Group (GEO) said it is proposing to issue $1.2 billion aggregate principal amount of senior notes, comprised of $700.0 million aggregate principal amount of senior secured notes due 2029 and $500.0 million aggregate principal amount of senior unsecured notes due 2031, in a private offering. The notes will be guaranteed by GEO's domestic subsidiaries.

The GEO Group said the gross proceeds of the offering, borrowings under a contemplated $400.0 million Term Loan B under a new senior secured credit facility, and cash on hand will be used to refinance approximately $1.5 billion of existing indebtedness, and for general corporate purposes.