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The GEO Group, Inc. Announces Early Results In Connection With The Tender Offer And Consent Solicitation For Its 7¾% Senior Notes Due 2017

Stocks in this article: GEO

The GEO Group, Inc. (NYSE: GEO) (“GEO”) announced the results to date of the cash tender offer and consent solicitation for any and all of its $250,000,000 aggregate principal amount of its 7¾% Senior Notes due 2017, CUSIP No. 36159RAC7 (the "Notes").

As of 5:00 p.m., New York City time, on October 2, 2013, which was the "Consent Payment Deadline" for the tender offer and consent solicitation, the Company received valid tenders and consents from holders of $209,092,000 in aggregate principal amount of the Notes. This represents 83.64% of the outstanding principal amount of the Notes.

Holders of Notes who tendered their Notes prior to the Consent Payment Deadline, and whose Notes are accepted for purchase, will receive the total consideration of $1,043.45 per $1,000 principal amount of Notes, which includes the consent payment of $30.00 per $1,000 principal amount of Notes validly tendered. GEO expects to settle all Notes tendered by the Consent Payment Deadline on October 3, 2013.

The tender offer and consent solicitation remains open and will expire at 11:59 p.m., New York City time, on October 17, 2013 (the “Expiration Time”). Holders of Notes who tender after the Consent Payment Deadline but prior to the Expiration Time will receive the tender offer consideration of $1,013.45 per $1,000 principal amount of Notes payable on the final payment date, which we expect to be October 18, 2013. In addition, all holders whose Notes are accepted for purchase will receive accrued and unpaid interest in respect of their purchased Notes from the last interest payment date up to but not including the applicable payment date. GEO plans to call for redemption all remaining Notes not tendered by the Consent Payment Deadline.

The terms and conditions of the tender offer and consent solicitation are set forth in the Offer to Purchase and Consent Solicitation Statement dated September 19, 2013 (the “Offer to Purchase”). GEO may amend, extend or, subject to certain conditions, terminate the tender offer and consent solicitation.

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