Toll Brothers guiding $300 million 10-year bullet at 4½%-4 5/8%; pricing Wednesday

By Paul A. Harris and Devika Patel

Portland, Ore., Jan. 17 – Toll Brothers Inc. plans to price a $300 million offering of non-callable 10-year fixed-rate senior notes (//BBB-) in a quick-to-market Wednesday trade, according to a syndicate source and a 424B5 filed with the Securities and Exchange Commission.

Guidance has the deal coming with a yield of 4½% to 4 5/8%.

The notes will be issued via Toll Brothers Finance Corp. and will be guaranteed by Toll Brothers Inc.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Mizuho Securities USA Inc., SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the bookrunners. PNC Capital Markets LLC is a lead manager.

The public offering is being transacted on the investment-grade syndicate desk.

Proceeds will be used for general corporate purposes, including debt repayment.

The Horsham Township, Pa.-based home builder plans to use the proceeds for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.