Exhibit 99.1
Service Corporation International to Redeem All Outstanding 5.375% Senior Notes due 2022
HOUSTON, June 14, 2019 — Service Corporation International (NYSE: SCI) announced today that it intends to redeem all of the outstanding 5.375% Senior Notes due 2022 (the “Notes”) not purchased pursuant to its previously announced tender offer for such Notes.
The redemption date will be July 15, 2019 and the Notes will be redeemed at par.
Payment will be made upon presentation and surrender of the Notes to The Bank of New York Mellon Trust Company, N.A.
Cautionary Statement on Forward-Looking Statements
The statements in this press release that are not historical facts are forward-looking statements made in reliance on the “safe harbor” protections provided under the Private Securities Litigation Reform Act of 1995. These statements may be accompanied by words such as “believe,” “estimate,” “project,” “expect,” “anticipate,” or “predict,” that convey the uncertainty of future events or outcomes. These statements are based on assumptions that we believe are reasonable; however, many important factors could cause our actual results in the future to differ materially from the forward-looking statements made herein and in any other documents or oral presentations made by us, or on our behalf. Important factors, which could cause actual results to differ materially from those in forward-looking statements include, among others, the following:
| • | | Our affiliated trust funds own investments in securities, which are affected by market conditions that are beyond our control. |
| • | | We may be required to replenish our affiliated funeral and cemetery trust funds to meet minimum funding requirements, which would have a negative effect on our earnings and cash flow. |
| • | | Our ability to execute our strategic plan depends on many factors, some of which are beyond our control. |
| • | | Our credit agreements contain covenants that may prevent us from engaging in certain transactions. |
| • | | If we lost the ability to use surety bonding to support our preneed activities, we may be required to make material cash payments to fund certain trust funds. |
| • | | The funeral and cemetery industry is competitive. |
| • | | Increasing death benefits related to preneed contracts funded through life insurance or annuity contracts may not cover future increases in the cost of providing a price-guaranteed service. |
| • | | The financial condition of third-party insurance companies that fund our preneed contracts may impact our future revenue. |
| • | | Unfavorable results of litigation could have a material adverse impact on our financial statements. |
| • | | Unfavorable publicity could affect our reputation and business. |
| • | | If the number of deaths in our markets declines, our cash flows and revenue may decrease. |
| • | | If we are not able to respond effectively to changing consumer preferences, our market share, revenue, cash flows, and/or profitability could decrease. |
| • | | The continuing upward trend in the number of cremations performed in North America could result in lower revenue, operating profit, and cash flows. |
| • | | Our funeral and cemetery businesses are high fixed-cost businesses. |
| • | | Regulation and compliance could have a material adverse impact on our financial results. |
| • | | Cemetery burial practice claims could have a material adverse impact on our financial results. |