New Issue-Standard Pacific sells $280 mln notes

Thu Sep 10, 2009 5:40pm EDT

  Sept 10 (Reuters) - Standard Pacific Escrow LLC, a unit of
Standard Pacific Corp (SPF.N), on Thursday sold $280 million of
senior notes in the 144a private placement market, said IFR, a
Thomson Reuters service.
  The size of the deal was increased from an originally
planned $200 million.
  Citigroup was the sole bookrunning manager for the sale.
BORROWER: STANDARD PACIFIC ESCROW LLC
AMT $280 MLN (FACE) COUPON 10.75 PCT  MATURITY 9/15/2016 
TYPE SNR NOTES      ISS PRICE 91.997  FIRST PAY 3/15/2010
MOODY'S Caa1        YIELD 12.50 PCT   SETTLEMENT 9/17/2009
S&P CCC             SPREAD 955 BPS    PAY FREQ SEMI-ANNUAL
FITCH N/A            MORE THAN TREAS  MAKE-WHOLE CALL 75 BPS

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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