Service Corp. Announces Of $550 Mln Private Senior Notes Offering

(RTTNews) - Service Corporation International (SCI) said Monday that it has commenced a private offering of $550 million aggregate principal amount of Senior Notes due 2024.

The company said it plans to use the net proceeds from the offering, together with borrowings under its revolving credit facility and cash on hand, to finance the purchase, in previously announced tender offers, or the subsequent repurchase or redemption, of all of the outstanding 6.75% senior notes due 2015 and all of the outstanding 7.00% senior notes due 2019 of the company and all of the outstanding 6.50% senior notes due 2019 of the Company's wholly owned subsidiary, Stewart Enterprises, Inc.