The issuance will close on May 13, 2013. The senior notes will pay interest semi-annually on Apr 15 and Oct 15, starting Oct 15, 2013. The company previously issued senior notes worth $300 million due Apr 15, 2023 on Apr 3, 2013.

Toll Brothers (TOL) intends to use the net proceeds to meet general corporate expenses, which may include the repurchase of its outstanding debt, according to Zacks.