GEO - The GEO Group (GEO) - Debt Restructuring Approved

Push Back That Wall. GEO received the required participation of its creditors to close on the debt restructuring. The $2 billion debt wall due over the next four years, now has maturities of $125 million in 2023; approximately $165 million in 2024; approximately $341 million in 2026; approximately $1.1 billion in 2027; and approximately $526 million in 2028, providing substantial flexibility of the Company.Go Forward. Following the closing of the transactions, GEO will have approximately $200 million in domestic unrestricted cash and cash equivalents and total liquidity of approximately $375 million. Assuming consistent financial performance across its business units, over the next two years, GEO expects to be able to reduce net recourse debt by $200­­–250 million annually. Read More >>