Carriage Services Announces Closing of Senior Notes Offering and Entry into Senior Secured Revolving Credit Facility
The Company used a portion of the net proceeds from the sale of the notes to repay its existing indebtedness under its former secured credit facility. The Company intends to use the remainder of the net proceeds for general corporate purposes, including acquisitions.
The notes are unsecured, senior obligations of the Company, and interest is payable semi-annually in arrears. The notes are fully and unconditionally guaranteed, on a senior unsecured basis, jointly and severally by each of the Company's subsidiaries that is a borrower, or guarantees indebtedness, under the Company's new credit facility.
In connection with the closing of the notes offering, the Company also entered into a new senior secured revolving credit facility with commitments of
The notes were offered in a private offering only to persons who are reasonably believed to be qualified institutional buyers pursuant to Rule 144A and to certain persons outside of
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Certain statements made herein or elsewhere by, or on behalf of, the Company that are not
historical facts are intended to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions that the Company believes are reasonable; however, many important factors, as discussed under "Forward-Looking Statements and Cautionary Statements" in the Company's Annual Report on Form 10-K for the year ended
For more information, please contact
Viki Blindermanat 713-332-8568 or Ben Brinkat 713-332-8441 or email InvestorRelations@carriageservices.com
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