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The notes will be issued at a coupon rate of 7.75% and a yield to maturity of 8.0%.
Proceeds will be used to fund the repurchase, redemption or other discharge of its 8A 1/4% senior notes due 2013, for which GEO is conducting a tender offer. Additionally, the net proceeds will pay off outstanding debt related to its revolving credit facility, for general corporate purposes and other things.
GEO's restricted subsidiaries that guarantee its obligations under its senior credit facility will also guarantee the notes.
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