Keystone calls all subordinated notes with purchase by Service Corp.

By Jennifer Chiou

New York, March 26 - Keystone North America Inc. announced the redemption of its subordinated notes, including the subordinated notes forming part of its income participating securities, after Service Corp. International's successful bid for the company.

The redemption date is April 26.

In addition, Keystone has also repaid outstanding amounts under the senior credit facility of its subsidiary, Keystone America, Inc. The loan has been terminated.

Service Corp. said it received tenders for about 91% of outstanding Keystone common shares.

Keystone is a Tampa, Fla.-based provider of death-care products and services. Service Corp. is a Houston-based owner and operator of funeral service locations and cemeteries.

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