Update ： GEO - GEO Group -6.6% as it cuts dividend, trims revenue guidance
內容大意：
$GEO懲教集團(GEO)$ 二季報關鍵點：
2Q好預期：
1）總收入$587.8 million；
2）Net Income $36.7 million，每股 $0.31；調整後每股$0.36；
3）Normalized FFO每股 $0.51，AFFO每股 $0.66（原預計0.54～0.58）。
略微下調2020全年指引：
1）Net Income每股$0.95-$0.99；調整後每股$1.07 to $1.11；
2）AFFO每股$2.29-$2.33（Q1時指引2.25～2.35）。
最為重要的是：
1）公司將保持REIT身份！
2）Q3開始將季度股息削减30%至0.34，年化1.36美元；
3）今年將償還債務1億美元，以後每年將償還5000萬～1億美元債務。
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跟早前文章的估計差不多
- 仲使GEO 的收入得到明顯的改善，但GEO 仍需要 削減股息 30% 。
- 並於削減股息後，使用現金有計劃地進一步買債。
- 代表一件事，GEO 的體質會漸漸健康。
- GEO Bond 進一步安全了，是一個良好的時機買入GEO BOND。
- Kano 馬上回補了GEO Bond 2023.
- 這簡直是 Free Money ，11.X % 的安全債 ！
看了立即sc 手上正股轉買Geo Bond 2023
回覆刪除我唔知對正股有什麼影響
刪除但係對債券投資者就正啦。
我覺得過多兩日再望個債價，個價會急升
刪除本身買Geo股為收息,減派再比WHT就唔值了
刪除收入上升
刪除不受肺炎影響
之後削息買債
根本就係refinance 出咗事
用尼個方法解決問題
謝謝Kano 兄分享
回覆刪除Thanks
刪除我都加左 geo 2023 bond
回覆刪除Haha
刪除同坐一船
有看到你的追加文 （9/8)
刪除都係過左大選，先再加注。
我真係不能小看左仔威力，甘搞法都係引我買姐，好我歸順
刪除怪不得我買不了, 比你買食哂
回覆刪除說什麼，你才是大戶
刪除Kano, 我見GEO 2023 BOND coupon 5.125, 唔係好明11%的回報係點計出來, 可否解說下?
回覆刪除Yield to maturity
刪除Right
刪除看yield to maturity
5.125 只是票面值，現在是below par
打折買入債券
Kano 小弟手上已有其他ETD同PS 適合再入手此BOND嗎?
刪除在不處於高槓的情況下
刪除當然可以
諗緊蝕唔蝕放GEO正股轉去GEO BOND
刪除唔需要蝕錢放
刪除先買債券，再將普通股用返你成本價放售。
反正唔急。
Thank you so much!
回覆刪除I have 2022 bond, can buy some 2023 bond now!
請教點睇呢隻會唔會2021 call?
回覆刪除可能性不大
刪除尚有GEO 2022
Kano兄：
回覆刪除想請教一下，我持有的GEO 5 1/8 04/01/23債券，最近要我作出選擇是否轉到新債。但除了 Option1外，其餘的選擇我都不太明白(如下)，可以解釋一下嗎？謝謝！
The GEO Group, Inc. has offered to exchange any and all of its outstanding notes, including the 5.125% Senior Notes due 2023, for new 10.500% Senior Second Lien Secured Notes due 2028.
Terms of the offer are as follows:
Option 1 - Take no action
Option 2 - Tender notes for new notes and cash: 700.00 USD + 300 P.A. New Notes + Accrued Interest per 1,000 Principal Amount tendered and accepted
Option 3 - Tender notes for new notes: 1,050.00 USD + Accrued Interest per 1,000 Principal Amount tendered and accepted
Option 4 - Tender notes for Consent Only: 1.00 USD per 1,000 principal amount tendered and accepted
In addition to the tender offer, the company is soliciting consents from holders to certain proposed amendments to the indenture under which the notes were issued. By participating in the exchange offer, you will be deemed to have given your consent to the proposed amendments.
Minimum Tender Requirement: 2,000 principal amount and in multiples of 1,000 thereafter, holders who tender less than all of their notes must continue to hold notes in at least the minimum denomination of 2,000.
The Company will not accept any tender that would result in the issuance of less than 2,000 principal amount of New Notes.
Note: Canadian Holders tendering to the offer must complete a Canadian Certification Form. Please send the completed form back to IB for submission to the agent along with the electronic tender via DTC. IB will complete the VOI Number and DTC Participant Number section prior to submission to the agent. If a form is not received, the election may be deemed invalid.
Guaranteed Delivery: No
Last day to purchase and be eligible to tender: 2022-08-12
The Final Deadline to tender notes to the offer will be 2022-08-16 @ 13:00 (America/New_York).
In the absence of an election, no action will be taken.
Option 2 及 3 也是問你會否把舊債換成新債 （後面是換債時的條款。）
刪除Option 4 就是不換舊債，但允許其修改 舊債內部分條款，然後給你 1元 /每1000元
刪除個人建議： 不換新債。
刪除感謝Kano兄回答及建議。
刪除