Toll Brothers, Inc. (NYSE:TOL) Files An 8-K Other EventsITEM 8.01. OTHER EVENTS.
On August 15, 2017, Toll Brothers Finance Corp. (the “Issuer”), a wholly-owned subsidiary of Toll Brothers, Inc. (the “Company”), delivered a notice of redemption (the “Redemption Notice”) to the holders of its outstanding 0.50% Exchangeable Senior Notes due 2032 (the “Notes”) issued under the Indenture dated as of September 11, 2012 (the “Indenture”), among the Issuer, the Company, the other guarantors party thereto and The Bank of New York Mellon, as Trustee (the “Trustee”), to which the Issuer will redeem all $287,500,000 aggregate principal amount of outstanding Notes. The Notes will be redeemed on September 15, 2017 at a redemption price in cash of 50% of the principal amount of the Notes. Accrued and unpaid interest to, but excluding, September 15, 2017 will be paid in accordance with the terms of the Indenture and the Notes.
About Toll Brothers, Inc. (NYSE:TOL)
Toll Brothers, Inc. designs, builds, markets and arranges financing for detached and attached homes in luxury residential communities. The Company caters to move-up, empty nester, active-adult, age-qualified and second-home buyers in the United States (Traditional Home Building Product). The Company operates in two segments: traditional home building and urban infill. Within traditional home building, it operates in approximately five geographic segments around the United States: the North, consisting of Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York; the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania and Virginia; the South, consisting of Florida, North Carolina and Texas; the West, consisting of Arizona, Colorado, Nevada and Washington, and California. It also builds and sells homes in urban infill markets through Toll Brothers City Living (City Living). As of October 31, 2015, it was operating in approximately 20 states.
