GEO Group: Amend-And-Extend Is In Sight

May 08, 2022 4:54 AM ETThe GEO Group, Inc. (GEO)CXW239 Comments
Double S Capital profile picture
Double S Capital
883 Followers

Summary

  • On May 2, GEO announced that a final definitive agreement has not been reached with the creditor ad hoc groups.
  • Major terms of the proposed amend-and-extend transaction were agreed upon, however.
  • GEO is expected to enter into a new non-disclosure agreement with the creditor ad hoc group to finalize an agreement.
  • I will discuss the proposed transaction and the treatment of each security.

barbed wire fence

Photography By Tonelson/iStock via Getty Images

Situation Update

As I previously wrote, while the parties were far apart on terms initially I believed an amend-and-extend transaction was possible. On May 2nd, GEO (NYSE:GEO) released another cleansing material

Geo Group cap structure

Q1-2022 10-Q

Geo Group maturity wall

Company Presentation

Geo Group PF Cap Structure

Author's Estimate

Geo Group Cash Sources and Uses

Author's Estimate

Geo Group FCF Model

Author's Estimate

GEO stock return chart

Google

Geo Group Cleansing Material

Cleansing Material

Geo Group Cleansing Material

Cleansing Material

Geo Group bond prices

TRACE

This article was written by

Double S Capital profile picture
883 Followers
Event-driven, fundamentally oriented value investor. My favorite quote - if you want to be the smartest person in the room, go to an empty room - something like that.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: I'm long GEO 2023s and 2026s.

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