Current Report Filing (8-k)
May 10 2016 - 4:03PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT
TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): May 10, 2016
Acadia Healthcare Company, Inc.
(Exact Name of Registrant as Specified in Its Charter)
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Delaware
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001-35331
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45-2492228
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(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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6100 Tower Circle, Suite 1000
Franklin, Tennessee
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37067
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(Address of Principal Executive Offices)
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(Zip Code)
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(615) 861-6000
(Registrants Telephone Number, including Area Code)
Not Applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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As previously reported, on February 16, 2016, Acadia Healthcare
Company, Inc. (Acadia or the Company) completed its acquisition of Priory Group No. 1 Limited (Priory). As a result of its acquisitions of Partnerships in Care and Priory, Acadia generates a significant
portion of its income in British Pounds Sterling (GBP), while all of Acadias debt is denominated in U.S. dollars.
In
May 2016, Acadia entered into multiple cross currency swap agreements with an aggregate notional amount of $650.0 million to manage foreign currency exchange risk by effectively converting a portion of its fixed-rate U.S. dollar denominated senior
notes, including the semi-annual interest payments thereunder, to fixed-rate, GBP-denominated debt. The senior notes effectively converted include $150.0 million aggregate principal amount of 6.125% Senior Notes due 2021, $300.0 million aggregate
principal amount of 5.125% Senior Notes due 2022 and $200.0 million aggregate principal amount of 5.625% Senior Notes due 2023. During the term of the swap agreements, the Company will receive semi-annual interest payments based in U.S. dollars from
the counterparties based on U.S. dollar fixed interest rates, and the Company will make semi-annual interest payments based in GBP to the counterparties based on GBP fixed interest rates. The interest rates applicable to the GBP interest payments
are substantially the same as the interest rates in place for the existing U.S. dollar-denominated debt. At maturity, the Company will repay the principal amounts listed above in GBP and receive the principal amount in U.S. dollars.
The Company has designated the cross currency swap agreements as qualifying hedging instruments and is accounting for these as net investment
hedges. The gains and losses resulting from fair value adjustments to the cross currency swap agreements will be recorded in accumulated other comprehensive income to the extent that the swaps are effective in hedging the designated risk. Cash flows
related to the cross currency swaps will be included in operating activities on the consolidated statements of cash flows.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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ACADIA HEALTHCARE COMPANY, INC.
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Date: May 10, 2016
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By:
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/s/ Christopher L. Howard
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Christopher L. Howard
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Executive Vice President, Secretary and General Counsel
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