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Acadia Healthcare seeks consents to lift leverage under 12 7/8% notes
By Susanna Moon
Chicago, June 9 – Acadia Healthcare Co., Inc. said it began a consent solicitation to amend its 12 7/8% senior notes due 2018.
The company is seeking to raise the permitted secured leverage ratio to 3.5 times from 3 times, according to a company press release.
The solicitation will end at 5 p.m. ET on June 17.
The proposed amendments require consents from holders of a majority of the outstanding principal amount of the notes and the execution of a supplemental indenture to the notes, which would become operative on the payment date, the release noted.
Jefferies LLC is the solicitation agent and Ipreo LLC (888 593-9546 or 212 849-3880) is the information and tabulation agent.
Acadia is a Franklin, Tenn.-based provider of inpatient behavioral health care services.
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