Ryland Group tightens talk on $250 million 10-year notes to 5 3/8%-5½%

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, Sept. 18 - Ryland Group Inc. has revised price talk on its $250 million senior notes due 2022 (existing ratings B1/BB-) to 5 3/8% to 5½%, according to a market source.

Price talk was tightened from initial guidance of 5½% to 5¾%.

An investor call was held at 11 a.m. ET on Tuesday.

J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are the joint bookrunners, while Wells Fargo Securities LLC and Deutsche Bank Securities Inc. are the co-managers.

Proceeds will be used for general corporate purposes.

Ryland is a Westlake Village, Calif.-based homebuilder.

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