GEO Group to price $250 million eight-year notes Wednesday afternoon

By Paul A. Harris

St. Louis, Oct. 5 - The GEO Group, Inc. plans to sell $250 million of eight-year senior notes (expected ratings B1/BB-) on Wednesday afternoon, according to an informed source.

Bank of America Merrill Lynch, SunTrust Robinson Humphrey Inc., Wells Fargo Securities, BNP Paribas Securities Corp. and Barclays Capital Inc. are joint bookrunners for the Rule 144A with registration rights offering.

The notes come with four years of call protection.

Proceeds will be used to redeem the Boca Raton, Fla.-based private correctional services company's 8¼% senior notes due 2013, to pay down its revolving credit facility and for general corporate purposes.

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