IRVINE, Calif., Aug. 1, 2013 /PRNewswire/ -- Standard Pacific Corp. (NYSE: SPF) today announced the pricing of its previously announced public offering of senior notes and the increase in the amount of the offering to $300 million aggregate principal amount of notes. Citigroup Global Markets Inc. and Credit Suisse Securities ( USA) LLC acted as joint book-running managers for the notes offering.
The notes will pay interest semi-annually in arrears at a rate of 6.25% per year and will mature on December 15, 2021, unless earlier repurchased. The notes will be guaranteed on a senior unsecured basis by the Company's subsidiaries that guarantee the Company's outstanding notes.
The Company intends to use the net proceeds of the notes offering for general corporate purposes, including land acquisition and development, home construction, and other related purposes.
The closing of the notes offering is expected to occur on August 6, 2013, subject to customary closing conditions.The Company has an effective registration statement (including a prospectus) on file with the Securities and Exchange Commission (the "SEC") and has filed a prospectus supplement with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus supplement, the prospectus in that registration statement and other documents that the Company has filed and will file with the SEC for more complete information about the Company and the offering. You may obtain these documents for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, copies of the prospectus supplement and related base prospectus related to this offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (tel: 800-831-9146). This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.