Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Toll Brothers Reports Exchange Offer For Certain Outstanding Debt Securities

Toll Brothers Finance Corp., a wholly-owned subsidiary of Toll Brothers, Inc. (TOL: Quote), announced that it has commenced a registered exchange offer to exchange new 5.875% Senior Notes due February 15, 2022 for any and all of its currently outstanding 6.875% Senior Notes due 2012 and 5.95% Senior Notes due 2013.

The company stated that the New Notes will comprise part of the same series as, and are expected to be fungible for U.S. federal income tax purposes with, the $300 million aggregate principal amount of notes that Toll Brothers Finance is selling for cash under its Form S-3 Registration Statement filed with the Securities and Exchange Commission on November 23, 2011, as supplemented by the Prospectus Supplement filed on February 1, 2012. Settlement of the Cash Notes is anticipated to occur on February 7, 2012.

Click here to receive FREE breaking news email alerts for Toll Brothers Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A ban on athletes using stamina-boosting gases - xenon and argon - came into effect on Monday. The World Anti-Doping Agency (WADA) said Hypoxia-Inducible Factor (HIF) activators Xenon and Argon have been added to the 2014 List of Prohibited Substances and Methods List following the required three-month notice period and UNESCO's communication to all States Parties. A recommendation to revise the British manufacturing growth eased further in August to its lowest level in 14 months as output and demand increased at slower rates, survey results from Markit Economics showed Monday. The Markit/CIPS Purchasing Managers' Index dropped to 52.5 from a revised 54.8 in July. Economists had expected the score to fall to 55.1 from July's original figure of 55.4. Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.