New Issue: Acadia Healthcare prices $150 million 6 1/8% eight-year notes at par

By Paul A. Harris

Portland, Ore., March 7 - Acadia Healthcare Co., Inc. priced a $150 million issue of eight-year senior notes (B3/CCC+/) at par to yield 6 1/8% on Thursday, according to a syndicate source.

The deal was in the market with guidance in the 6¼% area, according to market sources.

BofA Merrill Lynch, Citigroup Global Markets Inc. and Jefferies & Co. Inc. were the joint bookrunners.

The Franklin, Tenn.-based provider of inpatient behavioral health care services plans to use the proceeds for general corporate purposes, which may include acquisitions.

Issuer:	Acadia Healthcare Co., Inc.
Amount:	$150 million
Maturity:	March 15, 2021
Securities:	Senior notes
Bookrunners:	BofA Merrill Lynch, Citigroup Global Markets Inc., Jefferies & Co. Inc.
Co-manager:	Fifth Third Securities Inc.
Coupon:	6 1/8%
Price:	Par
Yield:	6 1/8%
Spread:	459 bps
Call features:	Make-whole call at Treasuries plus 50 bps until March 15, 2016, then callable at 104.594, 103.063, 101.531, par on and after March 15, 2019
Equity clawback:	35% at 106.125 until March 15, 2016
Change-of-control put:	101%
Trade date:	March 7
Settlement date:	March 12
Ratings:	Moody's: B3
	Standard & Poor's: CCC+
Distribution:	Rule 144A with registration rights and Regulation S
Guidance:	6¼% area

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