Service Corp. to pay down revolver with some proceeds of note sale

By Wendy Van Sickle

Columbus, Ohio, Aug. 10 – Service Corp. International will repay about $88 million drawn under its revolving credit facility with some proceeds from a note offering, according to a press release.

The company said it will issue up to $300 million more of its 5 3/8% senior notes due 2024. The offering is a reopening of an existing series of notes and will bring the total principal of the outstanding notes to $850 million.

Service Corp. said it will also redeem all of its outstanding 6¾% senior notes due 2016 with proceeds of the offering.

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

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