Ryland Group calls 6 7/8% senior notes due 2013 for redemption in full

By Ashley Montgomery

Kansas City, Kan., May 24 - Ryland Group Inc. will redeem all of its 6 7/8% senior notes due 2013 on July 2, according to a notice.

The redemption price will be the greater of par and the sum of the remaining scheduled payments, discounted to the redemption date on a semiannual basis at the Treasury rate plus 30 basis points. The price will also include accrued interest to the redemption date.

Ryland is a Westlake Village, Calif.-based homebuilder and mortgage-finance company.

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