HOUSTON, May 7, 2019 /PRNewswire/ -- Service Corporation International (NYSE: SCI) (the "Company") announces that it has priced an underwritten public offering of $750 million aggregate principal amount of 5.125% Senior Notes due 2029. The Company expects to close the sale of the notes on May 21, 2019,
The Company will use net proceeds from the offering, together with cash on hand, to repurchase its $425 million 5.375% Senior Notes due 2022 pursuant to a concurrent tender offer and consent solicitation, repay outstanding borrowings under its revolving credit facility, and pay related fees and expenses.
Wells Fargo Securities is acting as the lead joint book-running manager for the offering.
The offering may be made only by means of a prospectus supplement and accompanying base prospectus. The prospectus supplement will be filed with the Securities and Exchange Commission (the "SEC") and may be found on its website at www.sec.gov. When available, copies of the prospectus supplement relating to the public offering may be obtained from:
Wells Fargo Securities, LLCAttention: WFS Customer Service608 2nd Ave S, Suite 1000Minneapolis, MN 55402Telephone: (800) 645-9751 Opt 5Email: email@example.com
This press release does not constitute an offer to sell, nor the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful. The notes will be offered only by means of a prospectus supplement and accompanying base prospectus. This press release does not constitute a notice of redemption with respect to the notes being redeemed.
Cautionary Statement on Forward-Looking Statements
The statements in this press release that are not historical facts are forward-looking statements made in reliance on the "safe harbor" protections provided under the Private Securities Litigation Reform Act of 1995. These statements may be accompanied by words such as "believe," "estimate," "project," "expect," "anticipate," or "predict," that convey the uncertainty of future events or outcomes. These statements are based on assumptions that we believe are reasonable; however, many important factors could cause our actual results in the future to differ materially from the forward-looking statements made herein and in any other documents or oral presentations made by us, or on our behalf. Important factors, which could cause actual results to differ materially from those in forward-looking statements include, among others, the following:
For further information on these and other risks and uncertainties, see our SEC filings, including our 2018 Annual Report on Form 10-K. Copies of this document as well as other SEC filings can be obtained from our website at www.sci-corp.com. We assume no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by us, whether as a result of new information, future events or otherwise.
About Service Corporation International
Service Corporation International (NYSE: SCI), headquartered in Houston, Texas, is North America's leading provider of deathcare products and services. At March 31, 2019, we owned and operated 1,479 funeral service locations and 482 cemeteries (of which 287 are combination locations) in 44 states, eight Canadian provinces, the District of Columbia, and Puerto Rico. Through our businesses, we market the Dignity MemorialŪ brand, which offers assurance of quality, value, caring service, and exceptional customer satisfaction. For more information about Service Corporation International, please visit our website at www.sci-corp.com. For more information about Dignity MemorialŪ, please visit www.dignitymemorial.com.
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SOURCE Service Corporation International
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