Cahill Represents Financing Sources in Acquisition by Toll Brothers
Cahill represented Citigroup, Deutsche Bank Securities, SunTrust Robinson Humphrey, and RBS as joint book-running managers, PNC Capital Markets as lead manager and the co-managers in connection with the public offering of 7,187,500 shares of common stock of Toll Brothers (NYSE: TOL) resulting in gross proceeds of $230,000,000. Proceeds from the offering will be used in connection with Toll Brother’s acquisition of the homebuilding business of California-based Shapell Industries, Inc.
Cahill also represented Citigroup, Deutsche Bank Securities, RBS and SunTrust Robinson Humphrey as joint active book running managers, PNC Capital Markets as lead manager and the co-managers in connection with a $600,000,000 Senior Notes offering comprised of $350,000,000 aggregate principal amount of 4% Senior Notes due 2018 and $250,000,000 aggregate principal amount 5.625% Senior Notes due 2024 by Toll Brothers Finance Corp. The Senior Notes are guaranteed on a senior basis by Toll Brothers, Inc. The proceeds will also used in connection with the Shapell acquisition. If the acquisition does not occur by a specified date, Toll Finance will redeem the Senior Notes.