GEO sets Jan. 11 launch for $365 million of incremental bank debt

By Sara Rosenberg

New York, Jan. 4 - The GEO Group Inc. has scheduled a bank meeting for Jan. 11 to launch its $365 million of incremental loan debt that will be borrowed under an amended senior secured credit facility, according to a market source.

BNP Paribas is the lead bank on the deal.

Proceeds will be used to fund the acquisition of CentraCore Properties Trust for $32.00 cash per common share or $356.1 million and to refinance CentraCore's debt at closing, which is estimated to be $40 million.

GEO is a Boca Raton, Fla., provider of correctional and mental health services. CentraCore is a Palm Beach Gardens, Fla., correctional real estate investment trust.

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