Acadia Healthcare to repay revolver borrowings via stock proceeds

By Marisa Wong

Madison, Wis., May 4 – Acadia Healthcare Co., Inc. plans to repay outstanding debt on its senior secured revolving line of credit using proceeds from an offering of common stock, according to a prospectus filed with the Securities and Exchange Commission.

The company currently has about $1.1 billion outstanding debt under its amended and restated senior credit facility, including about $180 million under the senior secured revolving credit line.

As of April 30, borrowings under the credit facility bore interest at 3.5%.

The credit facility matures on Feb. 13, 2019.

The company will also use proceeds from the public stock sale to fund acquisitions and for general corporate purposes.

Acadia is a Franklin, Tenn.-based provider of inpatient behavioral health care services.

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