09:16 AM EDT, 04/05/2024 (MT Newswires) -- GEO Group ( GEO ) said Friday it has entered into private exchange agreements with some 6.50% convertible senior noteholders.

GEO Corrections Holdings' noteholders will swap $177 million in total principal amount of the outstanding 6.50% notes for an estimated current value of $305 million, the company said.

The compensation will include cash and shares of GEO's common stock issued at closing.