HORSHAM, Pa., April 3, 2013 -- Toll Brothers, Inc. (NYSE:TOL) (www.tollbrothers.com) today announced the pricing of an offering of $300 million of 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%. 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 April 10, 2013.
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 jurisdiction.
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 Washington.
CONTACT: Frederick N. Cooper (215) 938-8312
Joseph R. Sicree (215) 938-8045