Carriage Services plans to redeem its 6 5/8% notes due 2026

By Rebecca Melvin

Concord, N.H., April 26 – Carriage Services, Inc. expects to redeem all of its existing 6 5/8% senior notes due 2026 with proceeds of a new notes offering and the proceeds of an amended and restated credit facility, according to a company news release.

The company intends to offer $400 million principal amount of senior notes due 2029 subject to market and other conditions under Rule 144A and Regulation S.

It also plans to amend and restate its existing credit facility, to be composed of a revolving credit facility of up to $150 million, including a sublimit of up to $10 million for swingline loans, a sublimit of up to $15 million for the issuance of standby or commercial letters of credit, and provisions for an accordion feature of up to $75 million.

Carriage Services is a Houston-based provider of death care services and products.

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