GEO Group plans to repay revolver borrowings with stock sale proceeds

By Marisa Wong

Morgantown, W.Va., March 7 – GEO Group, Inc. said it intends to repay amounts outstanding under the revolver portion of its senior credit facility using proceeds from an offering of common stock.

The company will also use funds from the public stock offering for general corporate purpose, according to a press release.

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

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