Stewart Enterprises to redeem all $44.25 million of 6½% senior notes

By Tali Rackner

Norfolk, Va., May 23 - Stewart Enterprises, Inc. called the remaining $44,254,000 of 6½% senior notes due April 15, 2019 in full, according to a notice.

The notes will be redeemed at 104.875 plus accrued interest on May 28.

The redemption follows the company's offer to buy back its $200 million of the notes. The tender offer expired at midnight ET on Friday. Holders had tendered $155.7 million, or 77.9%, of the notes as of the consent payment date, 5 p.m. ET on May 9, and Stewart said it would redeem any notes that remained outstanding after the offer ended.

U.S. Bank NA is the trustee or agent.

Jefferson, La.-based Stewart is a provider of products and services in the death-care industry. It is a subsidiary of Service Corp. International.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.