GEO redeems $650M 8.625% 2029 notes at $678M; extends $550M revolver to 2031, boosts buyback to $1.25B

GEO GROUP INC

$550M revolving credit facility maturity extended to July 14, 2031 under Amended and Restated Credit Agreement with Bank OZK as administrative agent; incremental amount raised to $750M.
GEO to redeem all $650M of 8.625% Senior Secured Notes due 2029 on October 15, 2026 at $1,043.13 per $1,000, or roughly $678M, plus accrued interest, funded by recently announced asset sales.
Amended credit agreement allows unlimited restricted payments, including share repurchases, if pro forma total leverage is at or below 2.25 to 1.00 and no default exists.
10.25% Senior Unsecured Notes due 2031 ($625M) permit unlimited restricted payments if consolidated total leverage is at or below 2.00 to 1.00.
Board approved a $750M increase to the share repurchase authorization, from $500M to $1.25B, effective through December 31, 2029.

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