GEO Group Inc.is planning to offer $300 million aggregate principal amount of senior unsecurednotes due 2026 and commenced a cash tender offer for any and all of its outstanding6.625% senior notes due 2021.
The company intends to use funds from the notes offering to financethe $300 million cash tender offer, according to separate April 11 news releases.
The tender offer consideration for each $1,000 principal amountof the 2021 notes will be $1,036.78. In order to be eligible to receive the tenderconsideration, holders must validly tender or deliver a properly completed and dulyexecuted notice of guaranteed delivery for their notes at or before 5 p.m. ET onApril 15.
Holders whose notes are purchased in the offering will also receiveaccrued and unpaid interest from the last interest payment date to, but not including,the payment date, which is expected to be April 18.
The company's obligation to accept for purchase and to pay forthe notes validly tendered and not withdrawn pursuant to the offer is subject toits waiver of some conditions, including the receipt of at least $300 million fromthe offering of 2026 notes.
D.F. King & Co. Inc. will serve as the tender agent and informationagent for the tender offer, while Wells Fargo Securities LLC will act as the soledealer manager. Wells Fargo Securities will also act as one of the joint book runnersfor the 2026 notes offering.