Toll Brothers to redeem $250 million 5.625% notes due 2024

By Taylor Fox

New York, Feb. 16 – Toll Brothers Finance Corp., a wholly owned subsidiary of Toll Brothers, Inc., plans to redeem its $250 million outstanding 5.625% senior notes due 2024, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed March 15 at the greater of par and the present value of the remaining scheduled payments on the notes being redeemed on the redemption date, discounted to the redemption date, on a semiannual basis, at the Treasury rate plus 50 basis points.

Toll Brothers will also pay interest.

The Bank of New York Mellon is the trustee.

The builder of luxury homes is based in Horsham, Pa.

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