HOUSTON, Texas, May 15, 2018 (GLOBE NEWSWIRE) -- Carriage Services, Inc. (NYSE:CSV) (“Carriage Services” or the
“Company”) today announced that it intends to offer, subject to market and other conditions, $325 million aggregate principal
amount of senior notes due 2026 (the “notes”) through a private offering to persons who are reasonably believed to be qualified
institutional buyers pursuant to Rule 144A and to certain persons outside of the United States pursuant to Regulation S, each under
the Securities Act of 1933, as amended (the “Act”).
The notes will be unsecured, senior obligations of the Company, and interest will be payable semi-annually in
arrears. The notes will initially be 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 offering, the Company expects to enter into a new $150 million senior secured revolving
credit facility. The new facility is expected to be undrawn at the closing of the notes offering.
The Company intends to use the net proceeds of the proposed offering to repay its existing indebtedness under its
existing secured credit facility, and for general corporate purposes, including acquisitions.
Neither the notes nor the related guarantees have been, nor will be, registered under the Act or the securities
laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption
from such registration requirements.
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.
About Carriage Services
Carriage Services is a leading provider of deathcare services and merchandise in the United States. Carriage
operates 178 funeral homes in 29 states and 32 cemeteries in 11 states.
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 December 31, 2017, could cause the Company's results in the future to
differ materially from the forward-looking statements made herein and in any other documents or oral presentations made by, or on
behalf of, the Company. The Company assumes no obligation to update or publicly release any revisions to forward-looking statements
made herein or any other forward-looking statements made by, or on behalf of, the Company. A copy of the Company's Annual Report on
Form 10-K, and other information about the Company and news releases, are available at http://www.carriageservices.com.
Source: Carriage Services, Inc.
For more information, please contact Viki Blinderman at 713-332-8568 or Ben Brink at 713-332-8441 or email InvestorRelations@carriageservices.com.
