Financing ·
GEO Group extends $550M revolving credit facility to July 2031 and redeems $678M of 2029 notes
GEOGeo Group Inc
The GEO Group closed an amended and restated credit agreement that maintains its $550 million revolving credit facility commitments while extending the maturity date to July 14, 2031. The amendment also increases the incremental borrowing capacity to $750 million and lifts restrictions on restricted payments, including share repurchases, subject to a leverage ratio covenant of 2.25 to 1.00. Concurrently, the company delivered notice to redeem all $650 million in outstanding aggregate principal amount of its 8.625% Senior Secured Notes due 2029 at a price of approximately $678 million plus accrued interest. The redemption is scheduled for October 15, 2026, and will be funded using net proceeds from recently announced asset sales. The GEO Group operates as a diversified government service provider specializing in secure facilities, processing centers, and community reentry services.