GEO GROUP INC (GEO): debt financing — GEO upsizes revolver to $450M, extends maturity to 2030, repays $132M Term Loan B

GEO GROUP INC

Revolver commitments increased from $310M to $450M; maturity extended to July 14, 2030.
Interest rate on SOFR-based loans reduced by 0.50% to SOFR + 2.75% per annum.
Repaid $132M of Term Loan B prior to amendment; expects to pay remaining balance from Lawton facility sale (closing July 25).
Net debt expected to fall to ~$1.47B; company may consider future capital returns.
Vesting of Executive Chairman Zoley's special restricted stock award accelerated to July 17, 2025.

item 1.01 item 2.03 item 5.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

GEO GROUP INC amended revolving credit of $450 million with Citizens Bank, N.A. at term SOFR reference rate for the applicable interest period plus 2.75% per annum maturing July 14, 2030.

Instrument: revolving credit
Principal: $450 million
Counterparty: Citizens Bank, N.A.
Rate: term SOFR reference rate for the applicable interest period plus 2.75% per annum
Maturity: July 14, 2030
Event: amendment

Exact text from the filing

The Amendment increases GEO’s revolving credit facility (the “Revolver”) commitments from $310 million to $450 million and extends the Revolver’s maturity from April 15, 2029 to July 14, 2030. The Amendment also lowered the applicable interest rates based on the total leverage ratio for loans using the Alternate Base Rate and loans using the Secured Overnight Financing Rate (“SOFR”) by 0.50%.

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Source: SEC EDGAR

accession 0001193125-25-160544

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