UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 22, 2010
Service Corporation International
(Exact name of registrant as specified in its charter)
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| Texas
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1-6402
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74-1488375 |
| (State or other jurisdiction
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(Commission
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(I.R.S. Employer |
| of incorporation)
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File Number)
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Identification No.) |
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| 1929 Allen Parkway Houston, Texas
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77019 |
| (Address of principal executive offices)
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(Zip Code) |
Registrant’s
telephone number, including area code (713) 522-5141
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))
TABLE OF CONTENTS
Item 1.01 Entry into a Material Definitive Agreement
On November 22, 2010, Service Corporation International (“SCI”) issued a press release that it
had completed the public offering of $250,000,000 aggregate principal amount of its 7.00% Senior
Notes due 2019 (the “Notes”). In connection with the offering, SCI entered into an Underwriting
Agreement with Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representative of the
underwriters named therein, dated November 17, 2010 (the “Underwriting Agreement”).
SCI registered the sale of the Notes with the SEC pursuant to an automatic shelf Registration
Statement on Form S-3 (Registration No. 333-162894) filed on November 5, 2009 (the “Registration
Statement”). SCI will use the net proceeds from the offering to repay indebtedness under its credit
facility and for general corporate purposes.
The terms of the Notes are governed by the Indenture dated as of February 1, 1993 (the
“Original Indenture”), between SCI and The Bank of New York Mellon Trust Company, N.A., as
successor trustee to The Bank of New York (the “Trustee”), as supplemented by the Ninth
Supplemental Indenture, dated as of November 22, 2010 (the “Ninth Supplemental Indenture”; the
Original Indenture, as amended and supplemented by the Ninth Supplemental Indenture, the
“Indenture”).
The Notes will mature on May 15, 2019, and interest is payable on the Notes on each May 15 and
November 15, commencing on May 15, 2011. The record date is May 1 and November 1. SCI may redeem
some or all of the Notes at any time prior to November 15, 2014 at a redemption price equal to 100%
principal amount plus a “make-whole” premium, plus accrued and unpaid interest, if any, to the date
of redemption. On or after November 15, 2014, SCI may redeem the notes at its option, at any time,
in whole or in part, at the redemption price specified in the Ninth Supplemental Indenture. If SCI
experiences a change of control, as described in the Indenture, each holder of the Notes will have
the right to require SCI to repurchase the Notes at 101% of the principal amount thereof, plus
accrued and unpaid interest, if any, to the date of such repurchase.
The Notes will be SCI’s general unsecured obligations and will rank equal in right of payment
with all of SCI’s other unsubordinated indebtedness and senior in right of payment to any of SCI’s
future subordinated indebtedness. The Notes will be effectively subordinated to all of SCI’s
existing and future secured indebtedness to the extent of the collateral securing such indebtedness
and to all indebtedness and other obligations of SCI’s subsidiaries, whether secured or not
secured, including subsidiary guarantees of obligations under SCI’s amended and restated senior
credit facility.
Under the Indenture, SCI has agreed to certain restrictions on its ability to create or incur
liens and to enter into certain sale/leaseback transactions. These covenants are subject to
important exceptions and qualifications.
The Indenture contains customary events of default. If an event of default under the
Indenture occurs and is continuing, the Trustee or the holders of at least 25% in principal amount
of the outstanding Notes may declare the unpaid principal of, the optional redemption premium, if
any, and accrued and unpaid interest, if any, on the Notes to be due and payable.
Other material terms of the Notes, the Original Indenture and the Ninth Supplemental Indenture
are described in the prospectus supplement, dated November 17, 2010, as filed by SCI with the
Securities and Exchange Commission (the “SEC”) on November 17, 2010. The foregoing descriptions of
the Underwriting Agreement, Original Indenture, the Ninth Supplemental Indenture and the Notes are
qualified in their entirety by reference to such Underwriting Agreement, Original Indenture and
Ninth Supplemental Indenture (including the form of Notes attached thereto), copies of which are
filed herewith as Exhibits 1.1, 4.1 and 4.2, respectively, and are incorporated herein by
reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance
Sheet Arrangement of a Registrant
The description contained under Item 1.01 above is incorporated by reference in its entirety
into this Item 2.03.
Item 7.01 Regulation FD Disclosure.
A copy of the press release referenced above is furnished as Exhibit 99.1 to this Current
Report on Form 8-K.
The information in Item 7.01 of this Current Report on Form 8-K shall not be deemed “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
or incorporated by reference in any filing under the Securities Act or the Exchange Act, except as
shall be expressly set forth by specific reference in such a filing.