HOUSTON, May 24, 2021 /PRNewswire/ -- Service Corporation
International (NYSE: SCI) (the "Company") announced today that it
has successfully completed its previously announced public offering
of $800 million aggregate principal
amount of 4.000% Senior Notes due 2031. The offering was made
by means of an underwritten public offering pursuant to an
effective shelf registration statement filed with the Securities
and Exchange Commission (the "SEC").
The Company will use net proceeds from the offering to fund the
redemption of all of its outstanding 8.000% Senior Notes due 2021
(the "Existing Notes"), repay the outstanding loans under its
revolving credit facility and pay related fees, interest and
expenses. The Company intends to use any remaining net proceeds for
general corporate purposes.
J.P. Morgan acted as the lead joint book-running manager for the
offering.
This press release does not constitute an offer to sell or
purchase, nor the solicitation of an offer to buy or an offer to
sell, the securities described herein, including the Existing
Notes, nor shall there be any sale or purchase of such securities
in any state in which such offer, solicitation, purchase or sale
would be unlawful. This press release does not constitute a
notice of redemption with respect to the Existing Notes.
Cautionary Statement on Forward-Looking Statements
The statements in this press release that are not historical
facts are forward-looking statements made in reliance on the safe
harbor protections provided under the Private Securities Litigation
Reform Act of 1995. These statements may be accompanied by words
such as "believe", "estimate", "project", "expect", "anticipate",
or "predict" that convey the uncertainty of future events or
outcomes. These statements are based on assumptions that we believe
are reasonable; however, many important factors could cause our
actual consolidated results in the future to differ materially from
the forward-looking statements made herein and in any other
documents or oral presentations made by, or on behalf of, the
Company.
For further information on these and other risks and
uncertainties, see our SEC filings, including our 2020 Annual
Report on Form 10-K and our Quarterly Report on Form 10-Q for the
quarter ended March 31, 2021. Copies
of this document as well as other SEC filings can be obtained from
our website at www.sci-corp.com. We assume no obligation to
publicly update or revise any forward-looking statements made
herein or any other forward-looking statements made by us, whether
as a result of new information, future events or otherwise.
About Service Corporation International
Service Corporation International (NYSE: SCI), headquartered
in Houston, Texas,
is North America's leading provider of funeral, cemetery
and cremation services, as well as final-arrangement planning in
advance. We offer families exceptional service in planning life
celebrations and personalized remembrances. Our Dignity Memorial®
brand serves approximately 500,000 families each year with
professionalism, compassion, and attention to detail. At March
31, 2021, SCI owned and operated 1,461 funeral homes and 484
cemeteries (of which 296 are combination operations) in 44 states,
eight Canadian provinces, the District of Columbia,
and Puerto Rico. Please visit us
at www.SCI-Corp.com and www.DignityMemorial.com.
J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Attention: Prospectus Department
Telephone: (866) 803-9204
Email: prospectus-eq_fi@jpmchase.com
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SOURCE Service Corporation International