Acadia Healthcare amended and refinanced its credit agreement. Bank of America acted as administrative agent, swing line lender and L/C issuer on the transaction.
The amendment replaced the existing revolving facility and tranche A term loan with a new revolving facility and tranche A term loan, respectively. The company’s line of credit on its revolver remains at $500 million, while the size of the term loan was reduced from $400 million to $380 million to reflect the current outstanding principal.
The amendment reduced the applicable rate for the revolver and the term loan by amending the definition of “applicable rate” in the credit agreement and replacing the related table therein.
