JEFFERSON, La., June 12, 2013 (GLOBE NEWSWIRE) -- Stewart Enterprises, Inc. (Nasdaq:STEI) announced today that its previously announced consent solicitation with respect to its 6.50% Senior Notes due 2019 (CUSIP No. 860370AM7 / ISIN No. US860370AM78) (the "Notes") has been successful and that it has obtained the required consents contingent upon consummation of the transaction to (a) waive the requirement under the Indenture (defined below) to make a change of control offer to repurchase the Notes in connection with the previously announced proposed acquisition (the "Acquisition") of Stewart by Service Corporation International ("SCI") (NYSE:SCI) (the "Proposed Waiver"); and (b) amend Stewart's reporting obligations (the "Proposed Amendment" and together with the Proposed Waiver, the "Proposed Waiver and Amendment") under the Indenture.
Stewart Enterprises Announces Required Consents Received In Its Consent Solicitation From Holders Of Its 6.50% Senior Notes Due 2019
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.