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Carriage Services plans $200 million facility via Bank of America
By Sara Rosenberg
New York, Aug. 2 - Carriage Services Inc. plans on getting a new $200 million senior secured credit facility with Bank of America Merrill Lynch the sole lead arranger and bookrunner on the deal, according to a news release.
The facility consists of an up to $70 million revolver and a $130 million five-year term loan.
Of the total facility amount, Bank of America has committed $50 million. Closing on the deal is subject to syndication.
Proceeds will be used to refinance an existing revolver, redeem 7 7/8% senior notes and for general corporate purposes.
Carriage Services is a Houston-based provider of death care services and products.
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