Toll Brothers, Inc. (NYSE:TOL) announced today that it has priced an underwritten tack-on offering of an additional $150 million of the 4.875% Senior Notes due March 15, 2027 previously issued by Toll Brothers Finance Corp., a wholly-owned subsidiary of the company. The additional Notes will have an issue price of 103.655% of principal plus an amount equal to accrued interest from, and including, March 10, 2017 to, but excluding, June 12, 2017. Settlement of the Additional Notes is anticipated to occur on June 12, 2017, subject to the satisfaction of customary closing conditions.
The company expects to use the net proceeds from the offering for general corporate purposes.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Mizuho Securities USA LLC, SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC are acting as Joint Active Book-Running Managers in the Offering. PNC Capital Markets LLC is acting as Lead Manager in the Offering. Capital One Securities, Inc., SMBC Nikko Securities America, Inc., U.S. Bancorp Investments, Inc., BB&T Capital Markets, a division of BB&T Securities, LLC, BNY Mellon Capital Markets, LLC, Citizens Capital Markets, Inc., Comerica Securities, Inc., Fifth Third Securities, Inc., Regions Securities LLC and TD Securities (USA) LLC are acting as Co-Managers in the Offering.
