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Allen & Overy Advises BNP Paribas on $1.7B Senior Facility for The GEO Group

March 31, 2017, 07:15 AM
Filed Under: Real Estate

The multinational law firm of Allen & Overy represented BNP Paribas as sole arranger and administrative agent in connection with the $1.7 billion senior secured credit facilities for The GEO Group, Inc. and its subsidiaries, including a new seven-year $800 million term loan “B” and a $900 million revolver with a $100 million multicurrency subfacility.

Proceeds of the new term loan were made available to GEO for purposes of refinancing its existing term loan facility, financing permitted acquisitions (including the previously announced $360 million purchase of Community Education Centers) and payment of related fees, costs and expenses and for general corporate purposes.

The GEO Group, Inc. is a fully integrated equity real estate investment trust (REIT) specializing in the design, financing, development and operation of correctional, detention and community reentry facilities worldwide, with operations in the United States, Australia, South Africa and the United Kingdom.

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