secwatch.observer — SEC 8-K summary
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Issuer:     SERVICE CORP INTERNATIONAL (SCI)
CIK:        0000089089
Form:       8-K
Filed at:   2023-01-12T23:59:59+00:00
Accession:  0001104659-23-003256
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Service Corp International enters $2.175B unsecured credit agreement maturing 2028
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- $1.5B revolver and $675M term loan A, both maturing January 2028.
- Proceeds to refinance existing credit facilities and pay related fees.
- Interest rates: SOFR plus 1.50%-2.25% or base rate plus 0.50%-1.25%, based on leverage.
- Leverage ratio covenant of 5.00x (step-up to 5.50x for three quarters after a qualified acquisition).
- Indebtedness guaranteed by domestic subsidiaries; customary negative and affirmative covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/89089/000110465923003256/0001104659-23-003256-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/89089/000110465923003256/tm233187d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-003256

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