Toll Brothers Inc. priced an underwritten tack-on offering of an additional $150 million of its 4.875% senior notes due March 15, 2027.
The additional notes are priced at 103.655% of the principal amount plus applicable interest.
The company expects to use the net proceeds for general corporate purposes.
The offering is expected to close June 12.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Mizuho Securities USA LLC, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC serve as joint active book-running managers, while PNC Capital Markets LLC is the lead manager.
Capital One Securities Inc., SMBC Nikko Securities America Inc., U.S. Bancorp Investments Inc., BB&T Capital Markets LLC, BNY Mellon Capital Markets LLC, Citizens Capital Markets Inc., Comerica Securities Inc., Fifth Third Securities Inc., Regions Securities LLC and TD Securities (USA) LLC are the co-managers.