StoneMor begins marketing $400 million eight-year secured notes

By Paul A. Harris

Portland, Ore., April 20 – StoneMor Inc. plans to kick off a $400 million offering of eight-year senior secured notes on an investor conference call beginning at 1:30 p.m. ET on Tuesday, according to an informed source.

The deal is set to be marketed by means of investor calls through Thursday and to price late in the April 19 week.

Jefferies LLC is the bookrunner.

The Rule 144A and Regulation S for life notes come with three years of call protection. A special call provision allows the issuer to redeem 10% of the notes annually at 103 during the non-call period.

The Bensalem, Pa.-based owner and operator of cemeteries plans to use the proceeds to repay debt and increase cash on its balance sheet.

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