|View printer-friendly version|
Service Corporation International Completes Private Offering Of $425 Million Of 5.375% Senior Notes Due 2022
The net proceeds will be held in an escrow account pending the consummation of the Acquisition. The Acquisition is expected to close in late 2013 or early 2014, subject to regulatory approvals and customary closing conditions. All outstanding Notes are subject to special mandatory redemption in the event that the Acquisition and related transactions are not consummated on or prior to
The Notes may be resold by the initial purchasers pursuant to Rule 144A and Regulation S under the Securities Act of 1933 (the "Securities Act"). The Notes have not been registered under the Securities Act or the securities laws of any state and may not be offered or sold in
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. Readers are cautioned that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, statements about the benefits of the Acquisition, including future financial and operating results, the combined company's plans, objectives, synergies, expectations and intentions and other statements that are not historical facts.
The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the ability to obtain regulatory approvals of the Acquisition on the proposed terms and schedule; the failure of Stewart's shareholders to approve the Acquisition; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the Acquisition may not be fully realized or may take longer to realize than expected; disruption from the Acquisition making it more difficult to maintain relationships with customers, employees or suppliers. Additional factors that may affect future results are contained in SCI's filings with the