Ryland Sells Notes

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Calabasas-based Ryland Group Inc. said on Wednesday that that it sold $250 million of 6.875 percent senior notes due 2013 pursuant to a shelf registration statement on file with the U.S. Securities and Exchange Commission.


The offering was led by Citigroup Global Markets Inc. and UBS Securities LLC as joint book-runners.


Moody’s Investors Service assigned a Baa3 rating to the issue, and affirmed Ryland’s senior unsecured rating of Baa3 and senior subordinated debt rating of Ba2. The ratings outlook is stable.

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