Company Website:
http://www.thegeogroupinc.com
BOCA RATON, Fla. -- (Business Wire)
The GEO Group, Inc. (NYSE:GEO) (“GEO”) announced today the
pricing of its offering of $250,000,000 aggregate principal amount of
senior unsecured notes due October 2024 (the “Notes”). The Notes will be
issued with a coupon and yield to maturity of 5⅞%. The sale of the
Notes, which is subject to customary closing conditions, is expected to
be completed on September 25, 2014. GEO intends to use the net proceeds
to pay down outstanding borrowings under its Revolving Credit Facility
and pay related fees, costs and expenses.
The notes are being offered pursuant to GEO's existing shelf
registration statement, which became automatically effective upon filing
with the Securities and Exchange Commission. A preliminary prospectus
supplement and accompanying prospectus describing the terms of the
offering will be filed with the Securities and Exchange Commission. BofA
Merrill Lynch will act 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: BofA
Merrill Lynch, Attn: Prospectus Department, 222 Broadway, 11th Floor,
New York, NY 10038, or by emailing dg.prospectus_request@baml.com.
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 intention to issue the notes and its 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, including the risks that the offering of
the notes cannot be successfully completed. GEO undertakes no obligation
to update forward-looking statements to reflect events or circumstances
after the date hereof.
Contacts:
The GEO Group, Inc.
Vice President, Corporate Relations
Pablo
E. Paez, 866-301-4436
Source: The GEO Group, Inc.
© 2024 Canjex Publishing Ltd. All rights reserved.