Carriage Services talks $325 million eight-year notes at 6½%-6¾%; pricing Wednesday

By Paul A. Harris

Portland, Ore., May 22 – Carriage Services, Inc. talked its $325 million offering of eight-year senior notes (B2/B) to yield 6½% to 6¾%, according to market sources.

Official talk comes wide to initial price talk in the mid-6% area.

Books close at noon ET on Wednesday, and the Rule 144A and Regulation S for life offering is set to price thereafter.

Goldman Sachs & Co. is the left bookrunner. BofA Merrill Lynch is the joint bookrunner. Regions Securities LLC is the senior co-manager. Barrington Research and BBVA Securities Inc. are the co-managers.

The notes become callable after three years at par plus 75% of the coupon.

The Houston-based provider of death care services and products plans to use the proceeds to pay off its existing credit facility and for general corporate purposes, including acquisitions.

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