logo
Plus   Neg
Share
Email

Toll Brothers Reports Exchange Offer For Certain Outstanding Debt Securities

Toll Brothers Finance Corp., a wholly-owned subsidiary of Toll Brothers, Inc. (TOL), 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.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
Follow RTT