GEO Group plans to draw on revolver for stock repurchase program

By Sara Rosenberg

New York, July 14 - GEO Group Inc. plans to use borrowings under its revolving credit facility to help fund an up to $100 million stock repurchase program, according to a news release.

Other funds for the repurchase program will come from cash on hand and free cash flow.

The program is effective through Dec. 31, 2012.

GEO Group is a Boca Raton, Fla.-based provider of correctional, detention and residential treatment services to federal, state and local government agencies.

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