Service Corporation International Achieves $800 Million Notes Offering
Service Corporation International Completes Senior Notes Offering
Service Corporation International (NYSE: SCI), the leading provider of funeral, cemetery, and cremation services in North America, has successfully closed its public offering of $800 million aggregate principal amount of 5.750% Senior Notes due 2032. This major financial move indicates the company’s continued growth and stability in the market.
Strategic Use of Proceeds from the Offering
The funds raised through this offering will be allocated to pay off existing debts under the company’s revolving credit facility. This proactive measure not only improves financial security but also positions the company favorably for future investments and operational enhancements.
The Role of Wells Fargo Securities
Wells Fargo Securities served as the lead joint book-running manager for this significant offering, showcasing their expertise in facilitating major financial transactions in the market.
Cautionary Notes and Risk Factors
It is essential to recognize that any forward-looking statements made by the company come with inherent uncertainties. Various market conditions and operational dynamics could potentially impact the company’s performance. Factors influencing these outcomes include economic conditions, industry competitiveness, and shifts in consumer preferences.
The Importance of Financial Health
Through sound financial practices and strategic planning, Service Corporation International aims to withstand unpredictable markets and maintain its leadership position in the industry. This offering is a testament to their commitment to fiscal responsibility and catering to the needs of over 600,000 families each year.
About Service Corporation International
Service Corporation International operates a diverse portfolio of brands within the funeral and cemetery service sectors. They provide a comprehensive range of choices for families, from simple cremation services to elaborate life celebrations. The Dignity Memorial® brand, a cornerstone of their offerings, is synonymous with compassionate care and professionalism.
As of mid-2024, the company owned and operated 1,490 funeral service locations and 492 cemeteries across numerous states and provinces. This breadth of operations ensures that they can serve a wide demographic effectively.
Contact Information for Inquiries
For additional information regarding investor relations and media inquiries, interested parties can reach out directly to:
Investor Relations
Allie O'Connor
Assistant Vice President / Investor Relations
(713) 525-9156
Media Relations
Jay Andrew
Assistant Vice President / Corporate Communications
(713) 525-3468
Frequently Asked Questions
What is the significance of the $800 million offering for SCI?
This offering strengthens SCI's financial position, allowing it to repay debts and invest in future growth.
Who managed the offering for SCI?
Wells Fargo Securities was the lead joint book-running manager for this public offering.
How will the proceeds from the offering be utilized?
The funds will primarily be used to pay off existing outstanding loans under SCI’s revolving credit facility.
What services does Service Corporation International provide?
SCI offers funeral, cemetery, and cremation services, alongside advance planning options for final arrangements.
How does SCI maintain its market leadership?
Through ongoing investment in their services and commitment to quality, SCI can effectively serve a diverse client base and respond to market needs.
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