GEO Group Reports Pricing Senior Notes Offering And New Term Loan
Portfolio Pulse from Benzinga Newsdesk
GEO Group announced the pricing of a $1.275 billion senior notes offering, split between $650 million of 8.625% senior secured notes due 2029 and $625 million of 10.25% senior unsecured notes due 2031. The offering, along with a new term loan, is expected to yield net proceeds of approximately $1.67 billion, after initial costs.
April 04, 2024 | 9:32 pm
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GEO Group's successful pricing of a substantial $1.275 billion senior notes offering and securing a new term loan indicates a strong capital raising activity, expected to net $1.67 billion after expenses.
The successful pricing of the senior notes offering and the acquisition of a new term loan suggest a positive outlook for GEO Group's financial health and liquidity. This substantial capital infusion is likely to be viewed positively by investors, potentially leading to a short-term uptick in GEO's stock price. The detailed breakdown of the offering and the expected net proceeds highlight the company's strategic financial planning.
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