Ryland buys back $55.1 million 8.4% senior notes in second quarter

By Jennifer Chiou

New York, July 29 - Ryland Group, Inc. announced that it repurchased $55.1 million of its 8.4% senior notes due May 2017 during the second quarter ended June 30 for $52.3 million in cash in the open market.

The company said it recognized a net gain of $2.5 million.

Ryland is a Calabasas, Calif.-based home building and mortgage-finance company.

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