FORT WASHINGTON, PA — Luxury homebuilder Toll Brothers, Inc. (NYSE: TOL) unveiled plans for a $500 million underwritten public offering of 5.600% Senior Notes due 2035. The notes, issued through Toll Brothers Finance Corp., are set to settle on June 10, 2025, pending customary closing conditions.
The offering’s notes carry a fixed coupon rate of 5.600%, with interest payments scheduled semi-annually on June 15 and December 15, starting December 15, 2025.
Proceeds from the offering are earmarked for general corporate purposes, which may include the repayment of the company’s 4.875% Senior Notes due in 2025, further solidifying its financial strategy.
The joint book-running managers for this offering include BofA Securities, BBVA Securities, BMO Capital Markets, Goldman Sachs, Mizuho Securities USA, PNC Capital Markets, Truist Securities, U.S. Bancorp Investments, and Wells Fargo Securities. Supporting roles are held by additional lead and co-managers, including Citizens JPM Securities and Regions Securities as lead managers, and firms such as TD Securities and Zions Direct operating as co-managers.
This public offering of Senior Notes adds to Toll Brothers’ extensive financial activities and supports its long-term operational objectives as a premier homebuilding company in the U.S. Market.
The company has declared that it announcement shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, 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.
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