Service Corporation International (SCI) said Tuesday that it had completed its previously announced public offering of $150 million aggregate principal amount of its 8.00% Senior Notes due 2021.
The company plans to to use the net proceeds from the offering, together with available cash, to fund the acquisition of Keystone North America Inc.
Pending consummation of the Keystone acquisition, the net proceeds from the offering will be held in an escrow account. In the event the acquisition is not consummated on or prior to June 30, 2010, the company will redeem the notes, within five business days of such date, using the escrowed net proceeds from the offering plus an amount of escrowed cash or treasury securities such that the escrowed funds are sufficient to fund the redemption, at a redemption price equal to 101% of the principal amount, plus accrued and unpaid interest to, but not including, the date of redemption.
The notes may also be redeemed at SCI's option, in whole, but not in part, at any time prior to June 30, 2010, if SCI believes, in its sole judgment, that the acquisition will not be consummated by that date. Upon closing of the offering, SCI will deposit into the escrow account cash or treasury securities sufficient to redeem all of the notes, if required.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.