GEO - GEO Group to redeem $125.73M of 2023 Senior Notes

• The GEO Group ( NYSE: GEO ) will redeem all of the remaining $125.73M in aggregate principal amount of its 5.125% Senior Notes due April 1, 2023 on Oct. 06, 2022.
• The notes will be redeemed at a price of $1,000 per $1,000 original principal amount, plus any accrued and unpaid interest up to, but excluding, the redemption date.
• Payment of the redemption price for the 2023 Senior Notes will be made through the Depository Trust Company.
• GEO Executive Chairman George Zoley stated, "The redemption of our remaining 2023 Senior Notes is another important step towards addressing our near-term debt maturities. Along with our recently completed transactions to stagger our debt maturities over a longer period of time, we have now been able to reduce our outstanding debt due prior to 2026 to approximately $170 million. We remain focused on our goal of reducing net recourse debt by $200­­–250 million annually and decreasing our net leverage to below 3.5 times Adjusted EBITDA by the end of 2023 and to below 3 times Adjusted EBITDA by the end of 2024."

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