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Acadia launches $493.8 million term loan B-1 repricing to investors
By Sara Rosenberg
New York, May 17 – Acadia Healthcare Co. Inc. launched on Tuesday a $493.8 million term loan B-1 due February 2022 with price talk of Libor plus 300 basis points with a 0.75% Libor floor and a par issue price, according to a market source.
The loan has 101 soft call protection for six months, the source said.
Bank of America Merrill Lynch is the lead bank on the deal.
Proceeds will be used to reprice the existing term loan B-1 due February 2022 from Libor plus 350 bps with a 0.75% Libor floor.
Commitments are due at 5 p.m. ET on Friday, the source added.
Acadia is a Franklin, Tenn.-based provider of inpatient behavioral health care services.
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