GEO Group Redeems $650M of 8.625% Senior Secured Notes
The GEO Group redeemed all $650 million of its 8.625% Senior Secured Notes due 2029 for about $678 million plus accrued interest. Its gross debt is now $625 million; amended credit documents permit unlimited restricted payments, including buybacks, subject to leverage tests.
The GEO Group redeemed all of its $650M of 8.625% Senior Secured Notes due 2029 for approximately $678M, plus accrued interest. The company now has $625M in gross debt. Amendments to its credit facility and note indentures permit unlimited restricted payments, including share buybacks, subject to leverage tests.