Service Corp. to sell $425 million 8.5-year notes offering Monday

By Paul A. Harris and Aleesia Forni

Virginia Beach, Va., June 17 - Service Corp. International has scheduled an investor call on Monday ahead of a proposed $425 million offering of 8.5-year senior notes (expected ratings Ba3/BB-), according to a market source.

The call is set for 11:45 a.m. ET on Monday, and the issue is expected to price the same day.

J.P Morgan Securities LLC, BofA Merrill Lynch and Wells Fargo Securities LLC are the joint bookrunners.

SunTrust Robinson Humphrey Inc., BBVA Securities Inc. and Scotia Capital are the co-managers for the Rule 144A and Regulation S with registration rights deal.

The notes will be non-callable for four years.

Proceeds, along with current credit facilities, will be used to fund the acquisition of Stewart Enterprises.

Service Corp. is a Houston-based provider of deathcare products and services.

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