GEO Group announces $275 million senior secured note offering

By Paul A. Harris

St. Louis, Nov. 16 - The GEO Group, Inc., issuing via a to-be-named bankruptcy-remote subsidiary, plans to sell $275 million of senior secured notes, according to a news release issued by the company on Thursday.

Proceeds from the Rule 144A and Regulation S transaction, along with cash on hand, will be used to fund the proposed acquisition of CentraCore Properties Trust.

The prospective issuer is a Boca Raton, Fla., provider of government-outsourced services in the management of correctional, detention and mental health facilities.

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