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
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.
Toll Brothers, Inc. has filed a registration statement (including a
prospectus) with the Securities and Exchange Commission ("SEC") for the Notes
offering.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 issuer, any underwriter or any dealer participating in the offering will
arrange to send you the prospectus if you request it by calling Citigroup
Global Markets Inc. toll free at 1-800-831-9146, Deutsche Bank Securities Inc.
toll free at 1-800-503-4611, RBS Securities Inc. at 1-866-884-2071 or SunTrust
Robinson Humphrey, Inc. toll free at 1-800-685-4786.
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
Toll Brothers, Inc. is the nation's leading builder of luxury homes. The
Company began business in 1967 and became a public company in 1986.Its common
stock is listed on the New York Stock Exchange under the symbol "TOL."The
Company serves move-up, empty-nester, active-adult, and second-home buyers and
operates in 19 states: Arizona, California, Colorado, Connecticut, Delaware,
Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New
Jersey, New York, North Carolina, Pennsylvania, Texas, Virginia, and
CONTACT: Frederick N. Cooper (215) 938-8312
Joseph R. Sicree (215) 938-8045
Toll Brothers, Inc. Logo
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