The GEO Group Inc. has announced a significant amendment to its Credit Agreement, which involves increasing its Revolving Credit Facility from $310 million to $450 million and extending the maturity date to July 14, 2030. This amendment also lowers the interest rate on outstanding revolving credit loans, with interest accruing at the SOFR reference rate plus 2.75% per annum, a reduction of 0.50% from the previous rate. Additionally, prior to this amendment, GEO repaid $132 million of the Term Loan B and plans to use proceeds from the expected sale of the Lawton Correctional Facility to further reduce senior secured debt. These actions are expected to reduce GEO's total net debt to approximately $1.47 billion, positioning the company for potential future capital returns.
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