The GEO Group (NYSE: GEO) (“GEO”) announced today that it intends to offer $300,000,000 aggregate principal amount of senior unsecured notes due 2023 (the “notes”) in a private offering, subject to market and other customary conditions. GEO intends to use the net proceeds along with anticipated borrowings under an amended and restated senior credit facility GEO is in the process of restructuring to refinance GEO’s existing Senior Credit Facility and pay related fees, costs, and expenses.
The notes will be offered in the United States only to “qualified institutional buyers” pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The notes will be offered outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The notes have not been registered under the Securities Act and will not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.
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 prior to registration or qualification under the securities laws of any such jurisdiction.
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 or that our existing senior
credit facility cannot be successfully amended and restated. GEO
undertakes no obligation to update forward-looking statements to reflect
events or circumstances after the date hereof.
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