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GEO Group Evaluates Senior Note Offering and New Term Loan (NYSE:GEO)

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

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