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Carriage Services, Inc. announced that, effective November 4, 2009, it has amended and extended its existing senior secured bank revolving credit facility with its lenders, Bank of America and Wells Fargo. Prior to the transaction, the $20 million credit facility was scheduled to mature in April 2010. The amended credit facility is in the amount of $40 million with an accordion provision for an additional $20 million and matures in November 2012. The primary purpose of the credit facility is to provide acquisition financing. As of this date, the facility is undrawn.
Carriage Services is a provider of death care services and products. Carriage operates 134 funeral homes in 25 states and 32 cemeteries in 11 states.
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