Carriage Services announces it has increased its previously announced commitment with Bank of America as administrative agent and Merrill Lynch as sole lead arranger and sole book manager for a senior secured credit facility, as a result of the oversubscription of this financing.

The company said the new facility will be $235 million, including a new five-year $130 million term loan and an up to $105 million revolving credit facility.

Previously, the senior secured credit facility was $200 million providing for a five-year, $130 million term loan and an up to a $70 million revolver.

Carriage said its intention remains to use these proceeds to refinance our existing revolver, redeem our existing 7.875% senior notes, pay the associated redemption premium, pay other transaction related fees and expenses, and provide for future corporate needs.

Carriage Services is a provider of death care services and products. Carriage operates 164 funeral homes in 26 states and 33 cemeteries in 11 states.