Toll Brothers, Inc. has finalized a new five-year $1.215 billion bank credit facility. The unsecured facility, which closed today and matures in May 2021, replaces the Company's existing $1.035 billion revolving credit facility, which was scheduled to mature in August 2018. The new credit facility, which increases the number of bank participants from 15 to 18, has an accordion feature under which it can increase to a maximum of $2.0 billion, subject to certain conditions.

Douglas C. Yearley, Jr., Toll Brothers' chief executive officer, stated: "As the housing market continues along the path of recovery, the expansion and extension of our credit facility provides us with additional financial flexibility to support our growth. The quality and diversity of the banks in our facility and the attractive terms of this transaction reflect the strength of our Company and the continued confidence of the banking community in the housing recovery. We appreciate the opportunity to continue to work with this outstanding group of financial institutions."

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Mizuho Bank, Ltd., PNC Capital Markets LLC, SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC acted as Joint Lead Arrangers and Joint Bookrunners for the new facility with Citibank, N.A. as Administrative Agent; Deutsche Bank Securities Inc., Mizuho Bank, Ltd., and SunTrust Bank as Syndication Agents; PNC Bank, National Association and Wells Fargo Bank National Association as Documentation Agents; Citibank, N.A., Deutsche Bank AG New York Branch, Mizuho Bank, Ltd., PNC Bank, National Association, SunTrust Bank, Wells Fargo Bank National Association, Capital One, National Association, Sumitomo Mitsui Banking Corporation, U.S. Bank National Association, Branch Banking and Trust Company, Comerica Bank, Fifth Third Bank, an Ohio banking corporation, Regions Bank, TD Bank, N.A., The Bank of New York Mellon, Texas Capital Bank, N.A., Bank of the West, a California Banking Corporation, and Associated Bank, National Association as Lenders.

Toll Brothers, Inc., A FORTUNE 1000 Company, is the nation's leading builder of luxury homes. The Company began business in 1967 and became a public company in 1986.