StoneMor to pay down credit facility with common unit offering proceeds

By Tali Rackner

Norfolk, Va., Feb. 10 - StoneMor Partners LP plans to use the proceeds from a common unit offering to pay down borrowings outstanding under its existing credit facility, according to press release.

Amounts under the credit facility were incurred for acquisitions and general partnership purposes, including for working capital needs and to fund the company's capital expenditure program.

StoneMor is a Levittown, Pa.-based cemetery and funeral services provider.

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