Toll Brothers, Inc. (NYSE:TOL), announced Tuesday that it has priced an underwritten public offering of $300 million of 4.875% Senior Notes due March 15, 2027 (the “Notes”) issued by Toll Brothers Finance Corp., a wholly-owned subsidiary of the Company.
Settlement of the Notes is anticipated to occur on March 10, 2017, subject to satisfaction of customary closing conditions.
The Notes have a coupon of 4.875% and will pay interest semi-annually on March 15 and September 15, commencing September 15, 2017.
The Company expects to use the net proceeds from the offering for general corporate purposes, which may include repayment of indebtedness.
