Simpson Thacher Represents Citigroup Global Markets Inc., J.P.
Morgan Securities LLC and UBS Securities LLC as Underwriters in
$225 Million Convertible Senior Notes Offering by The Ryland
May 18, 2012
The Firm recently represented Citigroup Global Markets Inc.,
J.P. Morgan Securities LLC and UBS Securities LLC, as
underwriters, in connection with a public offering by The
Ryland Group, Inc. ("Ryland") of $225 million
aggregate principal amount of its 1.625% Convertible Senior
Notes due 2018. The notes are fully and unconditionally
guaranteed on an unsecured and unsubordinated basis by
substantially all of Ryland's direct and indirect wholly
owned homebuilding subsidiaries. The offering closed on
May 16, 2012.
Ryland is one of the nation's largest homebuilders and a
mortgage-finance company. Having operations in 13 states
across the United States, Ryland has built more than 295,000
homes and have provided mortgage financing and related
services for more than 245,000 homebuyers.
The Simpson Thacher team for the transaction included Risë
Norman, Roxane Reardon, Jonathan Ozner, Brian Price, Joshua
Pollick and Fan Wei (Capital Markets); Marcy Geller and Danny
Salinas (Tax); and Andrew Pagliughi (Blue Sky).