GEO prices $1.275B senior notes and $450M Term Loan to refinance ~$1.5B debt

GEO GROUP INC

$650M of 8.625% senior secured notes due 2029 and $625M of 10.25% senior unsecured notes due 2031 priced.
New $450M Term Loan B at SOFR+5.25% under a new senior secured credit facility.
Combined net proceeds ~$1.67B used to refinance existing Tranche 1 & 2 Term Loans, second lien notes, 6.00% notes due 2026.
Also intends to retire/settle portion of 6.50% exchangeable notes due 2026 with stock and up to $180M cash.
Transactions expected to close on April 18, 2024, subject to customary conditions.

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