The Firm recently represented Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, RBS Securities Inc., Deutsche Bank Securities Inc. and UBS Securities LLC, as underwriters, in connection with a public offering by The Ryland Group, Inc. ("Ryland") of $250 million aggregate principal amount of its 0.25% Convertible Senior Notes due 2019. 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 20, 2013.
Ryland is one of the nation's largest homebuilders and a mortgage-finance company. Having operations in 14 states across the United States, Ryland has built more than 300,000 homes and has provided mortgage financing and related services for more than 250,000 homebuyers.
The Simpson Thacher team for the transaction included Risë Norman, Roxane Reardon, Vanessa Clark, Randy Benjenk and Denis Griffin (Capital Markets); Marcy Geller and Jodi Sackel (Tax); Jeanne Annarumma and Daniel Avezbaki (Executive Compensation and Employee Benefits); Adeeb Fadil (Environmental); and Jennie Getsin (Blue Sky).