NEW YORK, June 30, 2017 – Milbank, Tweed, Hadley & McCloy LLP represented Credit Suisse Securities (USA) LLC, BMO Capital Markets and Whitney Bank as joint lead arrangers and joint bookrunners for a new $210 million senior secured term loan facility and $40 million revolving credit facility for AAC Holdings, Inc. (NYSE: AAC).
Proceeds from the new term loan and a portion of the revolving credit facility were used to pay off existing term and revolving facilities maturing in March 2020 as well as convertible and subordinated notes held by affiliates of Deerfield Management Company, L.P.
The Milbank Global Leveraged Finance team was led by partner Marcus J. Dougherty and included associates Spencer Pepper, Juyon Kang and Darell Hayes.
American Addiction Centers, a leading provider of inpatient and outpatient substance abuse treatment services, treats clients who are struggling with drug addiction, alcohol addiction, and co-occurring mental/behavioral health issues and currently operates substance abuse treatment facilities located throughout the United States.
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