CRC Health to refinance existing senior subordinated notes

By Toni Weeks

San Luis Obispo, Calif., March 13 - CRC Health Corp. said it intends to refinance all of its outstanding senior subordinated bonds, according to a press release.

The company also plans to refinance its existing senior secured credit agreement and to retire a portion of its parent company debt.

The company said it will need to pay fees in connection with securing the new debt, which will have interest rates that are different from interest rates on the company's current debt.

CRC expects the refinancing to be completed by the end of the first quarter of 2014.

The company is a Cupertino, Calif.-based operator of addiction recovery centers.

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