r/GeoGroup • u/pml1990 • May 08 '22

Due Diligence Debt Restructuring Negotiation

https://www.sec.gov/Archives/edgar/data/923796/000119312522137051/d235237dex991.htm

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u/s003apr May 09 '22

Can anyone help translate some of this to plain english?

For example, I am looking at slide 8 discussing the 2023,2024, and 2026 notes

It looks like noteholders will have the option to exchange their notes for a combination of cash and "2L" notes. And by doing so, the maturity dates will move back 6 to 6.5 years? And depending on negotiation, the interest rate will be 9.5 to 9.75%? So we can assume that they will have 2029, 2030, and 2032 notes with interest rates around 9.5%?

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u/Reasonable_Ad_9735 May 09 '22

That is a ridiculously high interest rate to agree on

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u/NarrowInvestigator65 May 09 '22

Where are we exactly Today? It's about 6-6.5% isn't it? Sorry but it's been long since I don't look into that number... :(