Service Corporation International Announces Pricing of Private Offerings of $425 million of 5.375% Senior Notes due 2022

 Service Corporation International Announces Pricing of Private Offerings of
                 $425 million of 5.375% Senior Notes due 2022

PR Newswire

HOUSTON, June 17, 2013

HOUSTON, June 17, 2013 /PRNewswire/ -- Service Corporation International
(NYSE: SCI) ("SCI") announced today the pricing of its previously announced
private offering of $425 million aggregate principal amount of 5.375% Senior
Notes due 2022 (the "Notes"). The Notes will bear interest at 5.375% per year
and were priced at par. The net proceeds from the offering will be used,
together with borrowings under SCI's senior credit facilities and cash on
hand, to finance SCI's previously announced acquisition (the "Acquisition") of
Stewart Enterprises, Inc. ("Stewart"), including the repayment of certain
existing indebtedness of Stewart and the payment of transaction costs. The
offering is expected to close on July 1, 2013.

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 February 28, 2014 or SCI determines, in its sole discretion, that the
Acquisition will not be consummated by that date.

The Notes are being offered only to qualified institutional buyers in reliance
on Rule 144A under the Securities Act of 1933, as amended (the "Securities
Act") and outside the United States only to non-U.S. investors pursuant to
Regulation S. The Notes will not be initially registered under the Securities
Act or any state securities laws and may not be offered or sold in the United
States absent an effective registration statement or an applicable exemption
from registration requirements or a transaction not subject to the
registration requirements of the Securities Act or any state securities laws.

This press release shall not constitute an offer to sell, or the solicitation
of an offer to buy, any securities, nor shall there be any sale of securities
mentioned in this press release in any state in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state.

Forward-Looking Statements

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 business
combination transaction involving SCI and Stewart, 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 transaction on the proposed terms and schedule;
the failure of Stewart's shareholders to approve the transaction; the risk
that the businesses will not be integrated successfully; the risk that the
cost savings and any other synergies from the transaction may not be fully
realized or may take longer to realize than expected; disruption from the
transaction 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 SEC, which are available at
www.sci-corp.com. SCI disclaims any obligation to update and revise
statements contained in these materials based on new information or otherwise.

About Service Corporation International

Service Corporation International, headquartered in Houston, Texas, is North
America's leading provider of deathcare products and services. At March 31,
2013, we owned and operated 1,437 funeral homes and 374 cemeteries (of which
213 are combination locations) in 43 states, eight Canadian provinces and the
District of Columbia. Through our businesses, we market the Dignity Memorial®
brand which offers assurance of quality, value, caring service, and
exceptional customer satisfaction. For more information about Service
Corporation International, please visit our website at www.sci-corp.com. For
more information about Dignity Memorial®, please visit
www.dignitymemorial.com.

For additional information contact:
Investors:  Debbie Young - Director / Investor Relations        (713) 525-9088
Media:      Lisa Marshall - Managing Director / Corporate       (713) 525-3066
            Communications

SOURCE Service Corporation International

Website: http://www.sci-corp.com
 
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