The GEO Group announced the closing of a Refinancing Revolving Credit Commitments Amendment (Amendment) to its Credit Agreement dated as of August 19, 2022, providing for the refinancing of all of GEO's outstanding revolving credit facility commitments. The Amendment provides for approximately $265 million in refinancing revolving credit commitments maturing on March 23, 2027. Prior to the Amendment, a portion of the Company's revolving credit commitments matured on May 17, 2024, and the balance of the Company's revolving credit commitments matured on March 23, 2027.

The Amendment further provides that interest will accrue on outstanding revolving credit loans at a rate determined with reference to the Company's total leverage ratio. As of now, revolving credit loans accruing interest at a SOFR based rate would accrue interest at the term SOFR reference rate for the applicable interest period plus 3.00% per annum. All other terms governing the refinancing revolving credit commitments remain substantially consistent with those governing the revolving credit commitments being refinanced.

GEO currently has no outstanding borrowings under its revolving credit facility, as amended.