Service to redeem 7 3/8% notes with note offering proceeds, loan

By Ashley Montgomery

Kansas City, Kan., Nov. 5 - Service Corp. International plans to use the proceeds from its $200 million offering of senior notes due 2020 to redeem all of its 7 3/8% senior notes due 2014, according to a news release.

The company said it would also fund the redemption with $9.6 million of borrowings from its second amended and restated credit facility.

Service is a Houston-based owner and operator of funeral service locations and cemeteries.

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