Toll Brothers Unit Launches $150M Cash Tender Offer

Law360, New York (September 15, 2009, 7:45 PM EDT) -- A wholly owned subsidiary of luxury homebuilder Toll Brothers Inc. has launched a $150 million cash tender offer for some of its senior notes, the company said Tuesday.

Toll Brothers Finance Corp. will also open a new senior notes offering that the parent company and the bulk of its subsidiaries will guarantee on a senior basis. Toll Brothers said it would use the proceeds both to finance the cash tender offer and for "general corporate purposes," which could include paying or buying back some of its...
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