Standard Pacific calls its 6½% notes, 6 7/8% notes and 7¾% notes

By Susanna Moon

Chicago, May 4 - Standard Pacific Corp. said it will redeem for cash all of its outstanding 6½% senior notes due 2010, 6 7/8% senior notes due 2011 and 7¾% senior notes due 2013.

The redemption date for the 6½% notes and 6 7/8% notes is June 2, and the redemption date for the 7¾% notes is June 3.

Copies of the notice of redemption may be obtained from Bank of New York Mellon Trust Co., NA at 800 254-2826.

The notice of redemption does not change or amend the company's tender offer for the 7¾% notes, which is scheduled to expire at 5 p.m. ET on May 18. The offer began on April 20.

Standard Pacific is offering $1,015.00 per $1,000 principal amount of the notes, including a premium of $2.08 for notes tendered by 5 p.m. ET on May 3, the early tender date.

Holders also will receive accrued interest to the purchase date.

The tender offer is conditioned on the receipt of proceeds from a concurrent public offering of senior notes of at least $125 million.

The company previously noted that it plans to redeem any notes that remain outstanding after the tender offer at $1,012.92 per $1,000 principal amount plus accrued interest to the redemption date.

The homebuilder is based in Irvine, Calif.

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