Service Corp. offers higher coupon, longer maturity bonds in exchange for 6% notes due 2005

New York, Aug. 7 - Service Corp. International announced it is offering new notes with a higher coupon and longer maturity for its existing 6% senior notes due Dec. 15, 2005.

The offer covers up to $300 million principal amount of the existing notes.

Investors who participate in the offer will receive $1,000 principal amount of new 7.7% senior notes due April 15, 2009 for each $1,000 principal amount of the existing notes. Holders who tender before 5.00 p.m. ET on Aug. 23 will receive an additional $27.50 in cash for each $1,000 principal amount of notes.

The Houston-based funeral and cemetery company will also pay accrued interest on the existing notes in cash.

The offer expires at 5.00 p.m. ET on Sept. 5 unless extended.

Only qualified institutional buyers will be able to participate in the offer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.