New Issue: Acadia Healthcare prices upsized $275 million tap of 5 5/8% notes at 100.5 to yield 5.515%

By Paul A. Harris

Portland, Ore., Sept. 14 – Acadia Healthcare Co., Inc. priced an upsized $275 million add-on to its 5 5/8% senior notes due Feb. 15, 2023 (B3/B-) at 100.5 to yield 5.515% on Monday, according to a syndicate source.

The deal-size was increased from $250 million.

The reoffer price came on top of price talk.

BofA Merrill Lynch and Jefferies LLC were the joint bookrunners.

The Franklin, Tenn.-based provider of inpatient behavioral health care services plans to use the proceeds to fund a cash tender for any and all of its outstanding 12 7/8% senior notes due 2018, as well as to repay revolver debt and for general corporate purposes, including acquisitions.

Issuer:	Acadia Healthcare Co., Inc.
Amount:	$275 million, increased from $250 million
Maturity:	Feb. 15, 2023
Security description:	Add-on to 5 5/8% senior notes due Feb. 15, 2023
Left bookrunner:	BofA Merrill Lynch
Joint bookrunner:	Jefferies LLC
Co-managers:	BMO Securities, Citigroup Global Markets Inc., Credit Agricole CIB, Fifth Third Bank, UBS Investment Bank
Coupon:	5 5/8%
Price:	100.5
Yield:	5.515%
Call:	Make-whole call at Treasuries plus 50 bps until Feb. 15, 2018, then callable at a premium
Trade date:	Sept. 14
Ratings:	Moody's: B3
	Standard & Poor's: B-
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	100.5
Marketing:	Quick to market
Original issue:	$375 million priced at par on Feb. 5, 2015
Fungibility:	Add-on notes to be fungible with original notes
Total issue size:	$650 million

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