Citigroup, Others Arrange Ryland Revolver
The Ryland Group announced that it has entered into a $300 million unsecured revolving credit facility. The facility, which matures in 2018, has an accordion feature under which the aggregate commitment may be increased up to $450 million, subject to availability of additional commitments.
Citigroup Global Markets, J.P. Morgan Securities, Bank of the West, RBS Securities and Wells Fargo Securities acted as joint lead arrangers and joint bookrunners for the transaction.
Ryland is one of the nation’s largest homebuilders and a mortgage-finance company.