Ryland buys back or redeems $274.6 million of notes in second quarter

By Angela McDaniels

Tacoma, Wash., July 28 - Ryland Group, Inc. redeemed or repurchased $274.6 million of its senior notes due 2012, 2013 and 2015 for $292.3 million in cash during the second quarter, according to the company's earnings release.

Of the total amount, $255.23 million was repurchased or redeemed in a tender offer and the remainder was repurchased in the open market.

The company recognized a net pretax charge of $19.1 million resulting from the debt repurchases.

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

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