Carriage Services Announces New $300 Million Credit Facility, Expanding Liquidity and Enhancing Strategic Flexibility
Key Highlights
- ➤Credit facility (CSV) raised to $300 million, up $50 million from $250 million
- ➤Maturity extended to September 30, 2031, from July 31, 2029
- ➤Borrowing margin expected to fall approximately 50 basis points below 4.0x leverage
- ➤Facility adds flexibility for working capital, capital expenditures, acquisitions and refinancing
- ➤Covenant flexibility expanded while maintaining 5.00x maximum leverage and 1.20x coverage ratios
Expert Statements
Carlos Quezada, Vice Chairman and Chief Executive Officer of Carriage Services
“The closing of our new credit facility represents another important step in strengthening Carriage’s capital structure and advancing the Company’s long-term growth strategy”
Carlos Quezada, Vice Chairman and Chief Executive Officer of Carriage Services
“The increased capacity, lowered costs, and enhanced flexibility support our ability to invest in our premier businesses and pursue attractive acquisition opportunities while maintaining a disciplined and balanced approach to capital allocation.”
John Enwright, Senior Vice President, Chief Financial Officer and Treasurer of Carriage Services
“We are pleased to have proactively completed this facility with the strong support of our new and existing lending partners.”
John Enwright, Senior Vice President, Chief Financial Officer and Treasurer of Carriage Services
“The new agreement increases our committed capacity, extends our stated maturity profile and reduces borrowing spreads across the pricing grid.”
John Enwright, Senior Vice President, Chief Financial Officer and Treasurer of Carriage Services
“It also provides greater flexibility to execute our growth and capital-allocation priorities while preserving the financial discipline that remains central to our strategy.”
HOUSTON, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Carriage Services, Inc. (NYSE: CSV) (“Carriage” or the “Company”), a leading provider of funeral and cemetery services and merchandise in the United States, today announced the closing of a new $300 million senior secured revolving credit facility (the “New Facility”).
The New Facility replaces Carriage’s existing $250 million senior secured revolving credit facility (the “Previous Facility”), increasing committed borrowing capacity by $50 million.
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