Acadia Healthcare
Acadia Healthcare is a Franklin, Tennessee-based healthcare company founded in 2005.
Key facts
| Legal Name | Acadia Healthcare Holdings, Llc |
|---|---|
| Company Operating Status | Active |
| Full Address | 6100 Tower Circle, Suite 1000 Franklin, TN 37067 |
| Legal Entity Identifier | 5493005CW985Y9D0NC11 |
| Official Name | Acadia Healthcare Company, Inc. |
| Stock Symbol | ACHC |
| Ticker Symbol | ACHC |
| Wellfound ID | acadia-healthcare |
| Wikidata ID | Q28407181 |
Capital structure
$1.6bn total debt
| Instrument | Coupon | Maturity | Amount | Source |
|---|---|---|---|---|
| Term A Loans · Senior Secured | Term SOFR or Base Rate plus Applicable Rate (pricing grid based | Feb 2030 | USD 650m | source ↗ |
| Revolving Credit Facility · Senior Secured | Term SOFR or Base Rate plus Applicable Rate (same pricing grid a | Feb 2030 | USD 1.0bn | source ↗ |
Covenant analysis
| Covenant | Term | vs market | Source |
|---|---|---|---|
| Purchase Money / Capitalized Lease Indebtedness Cap · Negative Covenant | Not to exceed greater of $120,000,000 and 2% of Consolidated Total Assets | tight 2% vs negative covenant median 20% (n=79) | source ↗ |
| Applicable Rate Pricing Grid · Pricing | Five-level grid based on Consolidated Total Net Leverage Ratio: Level I (≥4.50x): SOFR+2.250%, BR+1.250%, CF 0.350%; Level II (<4.50x, ≥3.75x): SOFR+2.000%, BR+1.000%, CF 0.300%; Level III (<3.75x, ≥3.00x): SOFR+1.750%, BR+0.750%, CF 0.250%; Level IV (<3.00x, ≥2.25x): SOFR+1.500%, BR+0.500%, CF 0.200%; Level V (<2.25x): SOFR+1.375%, BR+0.375%, CF 0.200% | loose 4.5x vs pricing median 2x (n=7) | source ↗ |
| Consolidated EBITDA Add-back Cap (Restructuring / Cost Savings) · Financial Definition Covenant | Aggregate of restructuring cash expenses (Section (a)(v)) and Permitted Cost Savings add-backs not to exceed 20% of Consolidated EBITDA for any four fiscal quarter period | source ↗ | |
| Mandatory Prepayment — Asset Dispositions / Recovery Events · Mandatory Prepayment | 100% of Net Cash Proceeds from Dispositions or Recovery Events exceeding $75,000,000 per transaction / $150,000,000 per fiscal year in aggregate, with 12-month reinvestment right (extendable to 18 months if committed) | market 100% vs mandatory prepayment median 100% (n=26) | source ↗ |
| Lien Restriction · Negative Covenant | No liens except Permitted Liens; general basket for other liens securing indebtedness not to exceed greater of $175,000,000 and 25% of LTM Consolidated EBITDA | market 25% vs negative covenant median 20% (n=79) | source ↗ |
| Indebtedness Restriction — General Basket · Negative Covenant | Other indebtedness not to exceed greater of $175,000,000 and 25% of LTM Consolidated EBITDA | market 25% vs basket median 20% (n=122) | source ↗ |
| Minimum Consolidated Interest Coverage Ratio · Financial Maintenance | 3.00x minimum | tight 3x vs coverage median 1.7x (n=40) | source ↗ |
| Qualified Securitization Financing Cap · Negative Covenant | Not to exceed greater of $350,000,000 and 50% of LTM Consolidated EBITDA | loose 50% vs negative covenant median 20% (n=79) | source ↗ |
Contact details
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