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Toll Brothers buys back $45.09 million 6.875% notes due 2012
By Toni Weeks
San Diego, June 16 - Toll Brothers, Inc. said that on June 10 it purchased about $45.09 million of Toll Brothers Finance Corp.'s 6.875% senior notes due 2012 in a privately negotiated open market transaction, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.
In connection with the buyback, the company expects to recognize a charge of roughly $3.4 million representing the purchase premium on the notes.
Toll Brothers said that after the buyback and the company's tender offer for about $105 million of the notes in October 2009, $150 million of the original $300 million of the notes remains outstanding.
Toll Brothers is a Horsham, Pa.-based builder of luxury homes.
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