The GEO Group announced the commencement of a refinancing process for its Tranche 1 and Tranche 2 term loans (collectively, the Term Loans). As of December 31, 2023, an aggregate amount of $906.7 million of Term Loans was outstanding. Overall, the Company is targeting $1.6 billion of secured and unsecured financing and a $310.0 million revolving credit facility to repay the Term Loans and its revolving credit facility, as well its outstanding 9.50% and 10.50% senior second lien secured notes due 2028 and 6.00% senior unsecured notes due 2026, and to use for general corporate purposes.

The terms of the proposed refinancing transactions will be disclosed upon completion of the transactions. The proposed refinancings will be subject to customary closing conditions and there can be no assurance that any of the refinancings will occur successfully, or at all.