Acadia Healthcare launches $950.2 million term loan B-2 repricing

By Sara Rosenberg

New York, Sept. 13 – Acadia Healthcare Co. Inc. held a lender call at 11 a.m. ET on Tuesday to launch a repricing of its $950.2 million covenant-light term loan B-2 due February 2023 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 repriced 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-2 down from Libor plus 375 bps with a 0.75% Libor floor.

Commitments are due at 5 p.m. ET on Thursday, the source added.

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

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