Standard Pacific to Redeem Debentures

Standard Pacific Corp. said Friday that on April 15 it will redeem, at full face value plus accrued interest, all of its outstanding 12.75% and 13.875% subordinated debentures.

The diversified home building, financial services and office furniture company said it will use proceeds of its recently completed $100-million offering of 10.5% senior notes to finance the redemption.