Acadia Healthcare to price $300 million eight-year notes on Thursday

By Paul A. Harris

Portland, Ore., Feb. 4 – Arcadia Healthcare Co. Inc. plans to price a $300 million offering of eight-year senior notes (B3/B-) on Thursday, according to a market source.

BofA Merrill Lynch, Jefferies LLC, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are the joint bookrunners for the Rule 144A and Regulation S with registration rights offering.

Fifth Third Securities, RBC Capital Markets, Credit Agricole CIB and MUFG are the co-managers.

The notes come with three years of call protection and feature a three-year 35% equity clawback.

The Franklin, Tenn.-based provider of inpatient behavioral health care services plans to use the proceeds to fund a portion of the purchase price for the planned acquisition of CRC Health Group, Inc.

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