JEFFERSON, La., June 10, 2013 (GLOBE NEWSWIRE) -- Stewart Enterprises, Inc. (Nasdaq:STEI) announced today that it is amending the terms of its previously announced consent solicitation with respect to its 6.50% Senior Notes due 2019 (CUSIP No. 860370AM7 / ISIN No. US860370AM78) (the "Notes"). Stewart is soliciting consents (the "Consent Solicitation") from holders of record as of 5:00 p.m., New York City time, on June 5, 2013 ("Holders") to (a) waive the requirement under the Indenture (defined below) for Stewart 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. The Proposed Waiver and Amendment will be effected by a supplemental indenture (the "Supplemental Indenture") to the indenture governing the Notes, dated as of April 18, 2011 (the "Indenture"), by and among Stewart, certain of its subsidiaries as guarantors and U.S. Bank National Association, as trustee (the "Trustee"). The amendment to the terms of the Consent Solicitation provides that if the requisite consents are received on or prior to the Expiration Date (as defined below), and the other conditions to the payment of the consent fee described in Stewart's Consent Solicitation Statement (as defined below) are satisfied, then Stewart will pay to the paying agent, on behalf of Holders who deliver valid and unrevoked consents to the Proposed Waiver and Amendment on or prior to the Expiration Date, an aggregate cash payment equal to $2.50 per $1,000 principal amount of Notes for which such consents are validly delivered and unrevoked, 50% of which will be payable promptly after the Expiration Date and the remaining 50% of which will be payable, if at all, promptly after the consummation of the Acquisition.