Service Corp. to repay revolver borrowings with notes proceeds

By Sara Rosenberg

New York, May 7 – Service Corp. International intends to repay all outstanding borrowings under its existing revolving credit facility using a portion of the proceeds from a $750 million senior notes offering, according to a market source.

Remaining proceeds from the notes will be used to fund a tender offer for 5 3/8% senior notes due 2022, to pay transaction related fees and expenses, and for general corporate purposes.

Service Corp. is a Houston-based provider of death care products and services.

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