Service Corp. International signs $2.5 billion senior unsecured credit agreement maturing 2030
Service Corporation International entered a new senior unsecured credit agreement with JPMorgan Chase Bank, N.A. as administrative agent on November 20, 2025. The facility includes a $750 million term loan and a revolving credit line of up to $1.75 billion, both maturing in November 2030. The filing sets interest rate ranges, a 5.00 to 1.00 leverage ratio covenant, and limits on debt, dividends and acquisitions, which shape the company's future borrowing and capital return options.
Key points
- Term Loan A of $750 million and revolving credit facility of up to $1.75 billion, both maturing November 2030
- Borrowings priced at Term SOFR or RFR plus 1.25% to 2.00%, or alternate base rate plus 0.25% to 1.00%, based on leverage ratio
- Required leverage ratio of 5.00 to 1.00, stepping up to 5.50 to 1.00 for three quarters after a qualified material acquisition
- Loans guaranteed by current and future domestic subsidiaries, excluding certain excluded subsidiaries
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 21, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.