trending Market Intelligence /marketintelligence/en/news-insights/trending/VzHtimU-aSqrTJigDQqE6Q2 content esgSubNav
In This List

AAC Holdings secures $65M financing for AdCare deal

Blog

Insight Weekly: Recession risk persists; Banks pull back from crypto; 2022 laggard stocks rally

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Insight Weekly: Inflation eases; bank M&A slows; top companies boost market share

Blog

Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet


AAC Holdings secures $65M financing for AdCare deal

AAC Holdings Inc. secured a $65 million acquisition financing commitment from Credit Suisse Securities (USA) LLC to fund its proposed $85 million acquisition of AdCare Inc.

The deal is expected to close in the first half of 2018.

AAC Holdings said the commitment was secured in conjunction with a senior secured incremental term loan facility that was arranged by Credit Suisse, Deutsche Bank Securities, BMO Capital Markets Corp. and Whitney Bank, and was priced and allocated on Sept. 22.

The incremental term loan facility would be issued in connection with the company's existing senior secured credit facility that closed in June 2017 and proceeds from the incremental facility would be used to fund the deal.

AAC Holdings also increased its revolving credit facility under its existing credit facility by $15 million to $55 million and will use it for general corporate purposes.