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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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