Acadia Healthcare’s $475 Million High-Yield Notes Offering

Davis Polk advised the representative of the initial purchasers in the offering.

Acadia Healthcare Company, Inc. completed the offering of $475 million aggregate principal amount of its 5.000% senior notes due 2029. The notes are guaranteed by Acadia’s domestic subsidiaries that guarantee its senior secured credit facility.

The Initial Purchasers comprised BofA Securities, Inc., Citigroup Global Markets Inc., BMO Capital Markets Corp., Capital One Securities, Inc., Credit Agricole Securities (USA) Inc., Fifth Third Securities, Inc., Goldman Sachs & Co. LLC, Wells Fargo Securities, LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc. and Regions Securities LLC.

Based in Franklin, Tennessee, Acadia provides inpatient behavioral healthcare services in the United States and the United Kingdom for children, adolescents and adults through a combination of acute inpatient behavioral facilities and residential treatment centers. As of June 30, 2020, Acadia operated 589 behavioral healthcare facilities with approximately 18,200 beds in 40 states, the United Kingdom and Puerto Rico.

The Davis Polk capital markets team advising the initial purchasers included partner Michael Kaplan (Picture) and associates Dan Gibbons and Elijah D. Jenkins. The tax team included partner Po Sit and associate Danielle Rapaccioli.

Involved fees earner: Dan Gibbons – Davis Polk & Wardwell; Elijah Jenkins – Davis Polk & Wardwell; Michael Kaplan – Davis Polk & Wardwell; Danielle Rapaccioli – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Bank of America Securities; BMO Capital Markets; Capital One Securities; Citigroup Global Markets Ltd; Credit Agricole Securities (USA) Inc.; Deutsche Bank Securities; Fifth Third Securities, Inc.; Goldman Sachs & Co.; J.P. Morgan Securities LLC; MUFG Securities Americas Inc. ; Regions Securities LLC; Wells Fargo Securities;

Author: Ambrogio Visconti