Acadia Healthcare Announces Additional Expected Interest Expense Savings with Latest Debt Repricing
May 10 2017 - 12:15PM
Business Wire
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today
announced that, effective May 10, 2017, it has amended its Amended
and Restated Credit Facility (the Credit Facility”) to lower the
interest rate on its Tranche B Term Loans. For both Acadia’s
Tranche B-1 Term Loan, which had approximately $489 million
outstanding as of March 31, 2017, and Tranche B-2 Term Loan, which
had approximately $943 million outstanding as of March 31, 2017,
the amendment lowers applicable interest rates by 25 basis points
from 3.00% to 2.75%.
“The interest expense savings we expect from this amendment
total approximately $3.6 million annually,” said Brent Turner,
President of Acadia. “Combined with the other Credit Facility
pricing amendments we have completed over the last 12 months, our
aggregate interest expense savings total approximately $15 million
annually. We greatly appreciate the confidence in Acadia that our
lending group has demonstrated throughout this period as we have
worked closely together to achieve these pricing reductions.”
About Acadia
Acadia is a provider of behavioral healthcare services. At March
31, 2017, Acadia operated a network of 575 behavioral healthcare
facilities with approximately 17,200 beds in 39 states, the United
Kingdom and Puerto Rico. Acadia provides behavioral health and
addiction services to its patients in a variety of settings,
including inpatient psychiatric hospitals, residential treatment
centers, outpatient clinics and therapeutic school-based
programs.
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Acadia Healthcare Company, Inc.Gretchen Hommrich,
615-861-6000Director, Investor Relations
Acadia Healthcare (NASDAQ:ACHC)
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