Issuer:
|
Toll Brothers Finance Corp. | |
Security:
|
6.750% Senior Notes due November 1, 2019 | |
Size:
|
$250,000,000 | |
Net Proceeds to Issuer Before Expenses:
|
$246,365,000 | |
Maturity:
|
November 1, 2019 | |
Coupon:
|
6.750% | |
Interest Payment Dates:
|
May 1 and November 1, commencing May 1, 2010 | |
Public Offering Price:
|
99.986% of the Principal Amount | |
Spread to Benchmark Treasury:
|
330.3 bps | |
Benchmark:
|
UST 3.625% due August 2019 | |
Make-whole Redemption Provision:
|
At any time at a discount rate of Treasury plus 0.50% | |
Trade Date:
|
September 15, 2009 | |
Settlement:
|
T+5; September 22, 2009 | |
CUSIP:
|
88947E AJ9 | |
Ratings:
|
Ba1 (negative) | |
| BBB- (negative) | ||
| BBB- (stable) | ||
Joint Book-Running Managers:
|
Banc of America Securities LLC | |
| J.P. Morgan Securities Inc. | ||
| Citigroup Global Markets Inc. | ||
Co-Managers:
|
RBS Securities Inc. | |
| BNP Paribas Securities Corp. | ||
| Comerica Securities, Inc. | ||
| Mizuho Securities USA Inc. | ||
| Capital One Southcoast, Inc. | ||
| Daiwa Securities America Inc. | ||
| PNC Capital Markets LLC | ||
Tender Offer:
|
Concurrently with the commencement of this offering, Toll Brothers Finance Corp. is launching a cash tender (the “Tender Offer”) offer for up to $150 million in aggregate principal amount of its 6.875% Senior Notes due 2012 (the “2012 Notes”) and its 5.95% Senior Notes due 2013 (the “2013 Notes”). Toll Brothers Finance Corp. is offering to purchase the 2012 Notes at a purchase price of $1,037.50 per $1,000 principal amount, plus accrued and unpaid interest, plus a $30.00 early tender payment for 2012 Notes validly tendered and accepted for payment on |
| or before 5:00 p.m. New York City time on September 28, 2009. Toll Brothers Finance Corp. is offering to purchase the 2013 Notes at a purchase price of $1,002.50 per $1,000 principal amount, plus accrued and unpaid interest, plus a $30.00 early tender payment for 2013 Notes validly tendered and accepted for payment on or before 5:00 p.m. New York City time on September 28, 2009. Notes tendered after 5:00 p.m. New York City time on September 28, 2009 will not receive the early tender payment. The Tender Offer will expire on October 13, 2009 unless extended. | ||
Additional Information:
|
The following changes will be made to the Preliminary Prospectus Supplement. Other information (including financial information) is deemed to have changed to the extent affected by the changes described below. | |
| The As Adjusted column in the “Capitalization” section on page S-10 of the Preliminary Prospectus Supplement will be updated to reflect the following changes ($ in thousands) as of July 31, 2009, on an as adjusted basis to give effect to the sale of the notes in this offering and the use of proceeds therefrom as described under “Use of Proceeds” in the Preliminary Prospectus Supplement, including (a) the completion of our concurrent Tender Offer, assuming that 2012 Notes and 2013 Notes have been tendered in equal amounts and accepted by us up to our maximum aggregate purchase amount of $150 million and (b) a charge for the estimated premium we will pay upon tender of the 2012 Notes and the 2013 Notes: | ||
| Total debt $2,246,696 | ||
| Retained Earnings $2,301,764 | ||
| Total stockholder’s equity $2,605,256 | ||
| Total capitalization $4,857,235 |
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