Service Corporation International (NYSE: SCI) has announced its intention to offer $800 million aggregate principal amount of senior notes in a recent press release. The company plans to use the net proceeds from the offering to repay outstanding loans under its revolving credit facility and pay related fees, interest, and expenses.
Wells Fargo Securities will act as the lead joint book-running manager for the offering. The offering will be made through an underwritten public offering pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (SEC).
The offering is subject to market and other conditions and will be made only by means of a prospectus supplement and accompanying base prospectus. Copies of the prospectus supplement relating to the public offering may be obtained from Wells Fargo Securities, LLC.
The press release emphasized that it 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. Additionally, it stated that the notes will be offered only by means of a prospectus supplement and accompanying base prospectus.
No specific financial metrics or changes from the previous period were included in this press release. As a result of these announcements, the company's shares have moved 0.8% on the market, and are now trading at a price of $80.0. For more information, read the company's full 8-K submission here.
