GEO Group amends $900 million revolver, extends it to May 2024

By Sarah Lizee

Olympia, Wash., June 13 – GEO Group closed an extension and amendment to its senior revolving credit facility, according to a press release.

The maturity for the amended revolver was extended to May 17, 2024.

The borrowing capacity will remain at $900 million. Pricing will also be unchanged. Currently, the revolver bears interest at Libor plus 225 basis points.

GEO currently has about $492 million in outstanding borrowings along with roughly $62 million set aside for letters of credit under the amended revolver, leaving about $346 million in available borrowing capacity.

GEO is a Boca Raton, Fla.-based real estate investment trust specializing in the design, financing, development and operation of correctional, detention and community reentry facilities.

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