Service Corp. International to pay bank borrowings via notes proceeds

By Sara Rosenberg

New York, Nov. 17 - Service Corp. International plans to pay down senior credit facility debt using proceeds from a $250 million senior notes offering, according to a 424B3 filed with the Securities and Exchange Commission on Wednesday.

The amount of outstanding debt under the company's credit facility immediately prior to the time of this offering is expected to be roughly $230 million.

Remaining proceeds will be used for general corporate purposes.

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

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