LEVITTOWN, Pa., May 29, 2013 (GLOBE NEWSWIRE) -- StoneMor Partners L.P. (Nasdaq:STON) recently completed the pricing of $175 Million 7.875% Senior Notes due 2021. This followed the recently announced tender offer for its existing 10.25% Senior Notes due 2017. The Company stated that these corporate actions will result in a cash interest savings of approximately $1.6 million per year and the extended maturity date offers additional options with respect to its capital management strategy.
StoneMor Partners L.P.'s Capital Management Actions Reduce Interest Expense; Company Increases Distribution
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.