BOCA RATON, Fla.--(BUSINESS WIRE)--
The GEO Group, Inc. (NYSE: GEO) ("GEO" or the "Company")
announced today the closing of its offering of $350,000,000 aggregate
principal amount of senior unsecured notes due April 2026 (the "Notes").
The Notes were issued with a coupon and yield to maturity of 6.00%. GEO
used the net proceeds of this offering to fund the tender offer for any
and all outstanding 6.625% senior notes due 2021 (the "6.625% senior
notes") and intends to use the remaining net proceeds for the
repurchase, redemption or other discharge of all of its existing 6.625%
senior notes that were not tendered pursuant to the tender offer, pay
related fees, costs and expenses and for general corporate purposes,
including repaying a portion of the borrowings under the Company's
revolving credit facility.
The Notes were offered pursuant to GEO's existing shelf registration
statement, as amended, which became automatically effective upon filing
with the Securities and Exchange Commission. A final prospectus
supplement and accompanying prospectus describing the terms of the
offering were filed with the Securities and Exchange Commission. Wells
Fargo Securities, LLC acted as one of the joint book-runners for the
offering. When available, copies of the final prospectus supplement and
accompanying prospectus for the offering may be obtained from: Wells
Fargo Securities, LLC, Attn: Client Support, 608 2nd Avenue,
South Minneapolis, MN 55402, Telephone: (800) 645-3751, Option 5, or by
emailing [email protected].
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
Notes in any jurisdiction in which such offer, solicitation or sale
would be unlawful. This offering may be made only by means of a
prospectus supplement and accompanying base prospectus.
This press release includes forward-looking statements regarding
GEO's intended use of the net proceeds. These forward-looking statements
may be affected by risks and uncertainties in GEO's business and market
conditions. This information is qualified in its entirety by cautionary
statements and risk factor disclosure contained in GEO's Securities and
Exchange Commission filings, including GEO's reports on Form 10-K and
Form 10-Q filed with the Commission. GEO wishes to caution readers that
certain important factors may have affected and could in the future
affect GEO's actual results and could cause GEO's actual results for
subsequent periods to differ materially from those expressed in any
forward-looking statement made by or on behalf of GEO. GEO undertakes no
obligation to update forward-looking statements to reflect events or
circumstances after the date hereof.
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