HORSHAM, Pa., Nov. 13, 2013 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (the " Company") (NYSE:TOL), announced today that it has priced an underwritten public offering (the " Offering") of $350 million of 4.000% Senior Notes due December 31, 2018 (the " 2018 Notes") and $250 million of 5.625% Senior Notes due January 15, 2024 (the " 2024 Notes" and, together with the 2018 Notes, the " Notes") issued by Toll Brothers Finance Corp., a wholly-owned subsidiary. Settlement of the Notes is anticipated to occur on November 21, 2013, subject to customary closing conditions.
The 2018 Notes have a coupon of 4.000% and will pay interest semi-annually on June 30 and December 31, commencing June 30, 2014.
The 2024 Notes have a coupon of 5.625% and will pay interest semi-annually on January 15 and July 15, commencing July 15, 2014.The Company expects to use the net proceeds from the Offering to finance in part its proposed acquisition of Shapell Industries, Inc. (" Shapell"). Citigroup, Deutsche Bank Securities, RBS, and SunTrust Robinson Humphrey are acting as Joint Book-Running Managers in the Offering. PNC Capital Markets LLC is acting as Lead Manager in the Offering. Capital One Securities, US Bancorp, Wells Fargo Securities, Comerica Securities, Fifth Third Securities, Inc., Regions Securities LLC, SMBC Nikko, and TD Securities are acting as Co-Managers in the Offering. The Offering is being made pursuant to a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement filed by the Company with the Securities and Exchange Commission ("SEC") on Form S-3. You may obtain a copy of the preliminary prospectus supplement, the accompanying prospectus and the final prospectus supplement, when available, for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company, any underwriter or any dealer participating in the Offering will arrange to send you any of those documents upon request by contacting Citigroup Global Markets Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: (800) 831-9146, Deutsche Bank Securities Inc. toll free at (800) 503-4611, RBS Securities Inc. toll free at (866) 884-2071, or SunTrust Robinson Humphrey, Inc. toll free at (800) 685-4786. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.