GEO Group to price $200 million five-year exchangeable notes

By Abigail W. Adams

Portland, Me., Feb. 17 – GEO Corrections Holdings Inc. plans to price $200 million five-year notes exchangeable for the GEO Group Inc.’s shares, according to a company news release.

The Rule 144A offering comes with a greenshoe of $30 million.

Proceeds will be used to repurchase or redeem its 5 7/8% senior notes due 2022 and for general corporate purposes.

The GEO Group is a Boca Raton, Fla.-based correctional facilities-focused real estate investment trust.

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