Service Corporation International Announces Pricing of $200M Senior Notes Offering
Service Corporation International (NYSE: SCI), the largest provider of deathcare products and services in North America, announced today that it has priced an underwritten public offering of $200.0 million of senior notes due 2020, which will bear interest at a rate of 4.5% per annum. SCI expects to close the sale of the notes on November 8, 2012, subject to the satisfaction of customary closing conditions.
The offering is being made under SCI's existing shelf registration statement previously filed with the Securities and Exchange Commission ("SEC"). SCI will use the net proceeds from this offering, along with a borrowing of approximately $9.6 million under its second amended and restated credit facility, to redeem all of its outstanding 73/8% Senior Notes due 2014.
J.P. Morgan Securities is acting as the lead joint bookrunning manager for the offering. The offering may be made only by means of a prospectus and related prospectus supplement. The prospectus supplement will be filed with the SEC and may be found on its website at www.sec.gov. Copies of the prospectus supplement relating to the public offering may be obtained from:
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