Toll Brothers Prices $600 Mln Of Senior Notes - Quick Facts

(RTTNews) - Luxury homes builder Toll Brothers, Inc. (TOL) has priced an underwritten public offering of $350 million of 4.000% Senior Notes due December 31, 2018 and $250 million of 5.625% Senior Notes due January 15, 2024 issued by Toll Brothers Finance Corp., a wholly-owned unit. Settlement of the notes may occur on November 21, 2013. The 2018 Notes have a coupon of 4.000% and would pay interest semi-annually on June 30 and December 31, commencing June 30, 2014. The 2024 Notes have a coupon of 5.625% and would pay interest every half year on January 15 and July 15, beginning July 15, 2014.

The firm plans to use the net proceeds to finance in part its proposed acquisition of Shapell Industries Inc. Citigroup, Deutsche Bank Securities, RBS, and SunTrust Robinson Humphrey are acting as Joint Book-Running Managers in the offering.