Standard Pacific to repay some revolver borrowings with convertibles proceeds

By Sara Rosenberg

New York, Sept. 24 - Standard Pacific Corp. plans to repay some borrowings under its revolving credit facility using a portion of the proceeds from a proposed $100 million convertible senior subordinated notes offering, according to a company news release.

Remaining proceeds will be used to pay the cost of convertible note hedge transactions.

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

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