Standard Pacific repays all 5 1/8% notes, buys back $2 million more 6½% notes

By Jennifer Chiou

New York, Aug. 6 - Standard Pacific Corp. repaid in full its $124.6 million of 5 1/8% senior notes due 2009 and also repurchased an additional $2 million of its 6½% senior notes due 2010, according to a 10-Q filed with the Securities and Exchange Commission.

On May 8, the company said it bought back $22.5 million of the 6½% notes and $4.4 million of its 6 7/8% senior notes due 2011.

On Feb. 13, the company amended its credit facility, allowing it to voluntarily repurchase its 5 1/8% notes, 6½% notes and 6 7/8% notes.

The company said it may, from time to time, undertake negotiated or open market purchases of the notes prior to maturity.

Standard Pacific is an Irvine, Calif.-based builder of single-family attached and detached homes.

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