The GEO Group Completes Redemption of All Senior Secured Notes Due 2029
The GEO Group completed the redemption of all $650 million of its 8.625% Senior Secured Notes due 2029 on October 15, 2026, paying approximately $678 million plus accrued interest and discharging the governing indenture. GEO's gross debt now stands at $625 million as of October 19, 2026, consisting of 10.25% Senior Unsecured Notes due 2031, with no borrowings under its $550 million revolver extended to July 2031.
Key figures
- Coupon
- 8.625%
- Revolver size
- 550000000
- Revolver maturity
- July 14, 2031
- Hq mortgage principal
- $36 million
- Approx redemption cost
- 678000000
- Gross debt outstanding
- 625000000
- Notes redeemed principal
- 650000000
- Share repurchase authorization
- $1.25 billion (increased $750M from $500M, effective through Dec 31, 2029)
- Revolver borrowings outstanding
- 0
- Restricted payment leverage threshold 2031 notes
- 2.00x
- Restricted payment leverage threshold amended credit agreement
- 2.25x
AI analysis
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