The GEO Group, Inc. Amends Senior Credit Facility

  The GEO Group, Inc. Amends Senior Credit Facility

Business Wire

BOCA RATON, Fla. -- April 04, 2013

The GEO Group (NYSE:GEO) (“GEO”) announced today an amendment to its senior
credit facility. Following the amendment, GEO’s senior credit facility is now
comprised of a $300 million Term Loan B due April 2020 bearing interest at
LIBOR plus 2.50% (with a LIBOR floor of 0.75%) and a $700 million Revolving
Credit Facility due April 2018 bearing interest at LIBOR plus 2.50% (with no
LIBOR floor). As of April 4, 2013, the Revolving Credit Facility had
approximately $240 million in outstanding borrowings along with approximately
$60 million of Letters of Credit issued thereunder.

GEO used borrowings under the amended and restated senior credit facility
along with the net proceeds from its previously announced $300 million, 5.125%
senior unsecured notes offering to refinance GEO’s previous senior credit
facility and pay related fees, costs, and expenses.

The GEO Group, Inc. (NYSE:GEO) is the first fully integrated equity real
estate investment trust specializing in the design, financing, development,
and operation of correctional, detention, and community reentry facilities
around the globe. GEO is the world's leading provider of diversified
correctional, detention, and community reentry services to government agencies
worldwide with operations in the United States, Australia, South Africa, and
the United Kingdom. GEO's worldwide operations include the ownership and/or
management of 96 facilities totaling approximately 72,000 beds with a growing
workforce of approximately 18,000 professionals.

This news release contains forward-looking statements regarding future events
and future performance of GEO that involve risks and uncertainties that could
materially affect actual results, including statements regarding borrowing
capacity under the Revolving Credit Facility. These forward-looking statements
may be affected by risks and uncertainties in GEO's business and market
conditions. This information is qualified in its entirety by cautionary
statements and risk factor disclosure contained in GEO's Securities and
Exchange Commission filings, including GEO's reports on Form 10-K and Form
10-Q filed with the Commission. GEO wishes to caution readers that certain
important factors may have affected and could in the future affect GEO's
actual results and could cause GEO's actual results for subsequent periods to
differ materially from those expressed in any forward-looking statement made
by or on behalf of GEO. GEO undertakes no obligation to update forward-looking
statements to reflect events or circumstances after the date hereof.

Contact:

The GEO Group
Pablo E. Paez, 866-301-4436
Vice President, Corporate Relations
 
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