This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Toll Brothers, Inc. Prices $100 Million Of Senior Notes

HORSHAM, Pa., May 8, 2013 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL) ( www.tollbrothers.com ) today announced the pricing of an offering of an additional $100 million of 4.375% Senior Notes due April 15, 2023 (the "Notes") issued by Toll Brothers Finance Corp., a wholly-owned subsidiary. The Notes, which are guaranteed on a senior basis by Toll Brothers, Inc. and all of Toll Brothers, Inc.'s subsidiaries that are guarantors under its revolving credit facility, have a coupon of 4.375% and will be issued at a price equal to 102.983% of their face value. The Notes will pay interest semi-annually on April 15 and October 15, commencing October 15, 2013. Settlement of the Notes is anticipated to occur on May 13, 2013.

Toll Brothers, Inc. (EPR) House w/ Blue shutters

The Notes are an additional issuance of, and will be treated as a single class with, the $300 million outstanding aggregate principal amount of Toll Brothers Finance Corp.'s 4.375% Senior Notes due 2023. The terms of the Notes offered will be identical to the terms of the outstanding 4.375% Senior Notes due 2023, except for the issue date and the issue price.

Toll Brothers will use the net proceeds from the sale of the Notes for general corporate purposes, which may include the repayment or repurchase of certain of its outstanding indebtedness.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., RBS Securities Inc. and SunTrust Robinson Humphrey, Inc. acted as Joint Book-Running Managers in the Notes offering. PNC Capital Markets LLC, Capital One Southcoast, Inc., BMO Capital Markets Corp., Comerica Securities, Inc., SMBC Nikko Capital Markets Limited, Wells Fargo Securities, LLC and U.S. Bancorp Investments, Inc. acted as Co-Managers in the Notes offering.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs