Texas-based funeral goods and services provider Service Corp. International said Dec. 12 that it has completed the public offering of $550 million aggregate principal amount of 4.625% senior notes due 2027.
The company intends to use the net proceeds, along with additional borrowings, to refinance its existing credit facilities, redeem outstanding notes and pay related fees and expenses. J.P. Morgan acted as the lead joint book-running manager for the offering.
The company added that it has issued a notice to redeem about $250 million aggregate principal amount of its 7.625% senior notes due 2018. The Bank of New York Mellon Trust Co. NA is acting as the redemption agent.
