Acadia Healthcare gets tenders for 90.6% of 12 7/8% notes, calls rest

By Susanna Moon

Chicago, Sept. 21 – Acadia Healthcare Co., Inc. said investors had tendered $88.3 million, or 90.6%, of its $97.5 million outstanding 12 7/8% senior notes due 2018.

Acadia also called the remaining notes outstanding for redemption on Nov. 2, according to a company press release.

The tender offer ended at 5 p.m. ET on Sept. 18. The offer began on Sept. 14.

As previously announced, he purchase price for the offer will be $1,078 for each $1,000 principal amount.

Holders also will receive accrued interest to but excluding the settlement date of Sept. 21.

The tender offer was conditioned on the company obtaining financing.

Acadia priced an upsized $275 million add-on to its 5 5/8% senior notes due Feb. 15, 2023 (at 100.5 to yield 5.515% on Sept. 14, as previously reported.

Ipreo LLC (212 849-3880 or at 888 593-9546) is the information agent and tender agent. Jefferies LLC (888 708-5831 or 212 363-8273) and BofA Merrill Lynch (888 292-0070 or 980 387-9534) are the dealer managers.

Acadia is a Franklin, Tenn.-based provider of inpatient behavioral health care services.

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