The Firm recently represented J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., and Wells Fargo Securities, LLC as underwriters, in connection with a public offering by The Ryland Group, Inc. ("Ryland") of $250 million aggregate principal amount of its 5.375% Senior Notes due 2022. 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 September 21, 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 has provided mortgage-financing and related services for more than 245,000 homebuyers.
The Simpson Thacher team for the transaction included Risë Norman, Will Golden, Linda Tieh, and Brian Price (Capital Markets); Jonathan Cantor and Drew Purcell (Tax); Adeeb Fadil (Environmental); Jeanne Annarumma (Executive Compensation and Employee Benefits); and Andrew Pagliughi (Blue Sky).