Ryland Group Announces Intention to Offer $250M in Senior Notes
The Ryland Group (NYSE: RYL), today announced its intention to offer, subject to market and other conditions, $250 million aggregate principal amount of its Senior Notes due 2022.
The notes will be guaranteed by substantially all of the Company's direct and indirect wholly owned homebuilding subsidiaries. The interest rate and certain other terms of the offering will be determined at the time of pricing.
The Company intends to use the net proceeds from this offering for general corporate purposes, which may include the repayment or repurchase of outstanding indebtedness.
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