Acadia Healthcare says it will look to sell $300 million in debt to complete the financing package for its acquisition of a British peer.
Acadia is planning to sell the notes, which will mature in 2022, only to qualified institutional investors in the United States and overseas. Word of its plans comes a week after the Franklin-based behavioral health care company launched a stock sale — scheduled to close today — that will generate $374 million.
In all, Acadia will pay about $681 million for Partnerships in Care, which runs 23 facilities with more than 1,200 beds and last year posted EBITDA of about $75 million on revenues of about $285 million.
At about 11:15 a.m., shares of Acadia (Ticker: ACHC) were up almost 1 percent to $45.65. Year to date, they're down slightly.
POSTDATA: WARRANTY DEEDS