Mental-health and addiction clinics operator, Priory Group, is raising £670 million in bonds and loans to finance its acquisition by Advent International, Bloomberg reports. The debt will include a £425 million of senior secured notes maturing in 2018 and £175 million of senior securities due in 2019.
Crown Newco 3 will issue the notes. Priory will also secure a £70 million revolving credit line maturing in 2017. Deutsche Bank, Royal Bank of Scotland and Credit Suisse are managing the financing.
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