Service Corp. to sell $525 million 10-year notes in Tuesday drive-by

By Paul A. Harris

Portland, Ore., Dec. 5 – Service Corp. International plans to price $525 million of 10-year senior notes in a quick-to-market Tuesday trade, according to a bond investor.

J.P. Morgan Securities LLC is leading the public offering.

The notes come with five years of call protection.

The Houston-based provider of deathcare products and services plans to use the proceeds, together with additional borrowings, to refinance its existing credit facilities and redeem outstanding notes.

Upon closing of the offering, the company intends to redeem approximately $250 million of its 7 5/8% senior notes due 2018.

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