By Devika Patel
Knoxville, Tenn., Oct. 31 – TD Ameritrade Holding Corp. offered further details about a $1 billion sale of senior notes (A2/A) that priced in three- and five-year tranches tighter than initial talk on Tuesday, according to an FWP filed with the Securities and Exchange Commission.
The company priced $600 million of three-year floating-rate notes at Libor plus 43 basis points. These notes priced at par.
A $400 million tranche of 3.75% notes due April 1, 2024 priced at a spread of 85 bps over Treasuries. These notes priced at 99.779 to yield 3.796%.
Barclays, Citigroup Global Markets Inc., TD Securities (USA) LLC, J.P. Morgan Securities LLC, BofA Merrill Lynch, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC were the bookrunners.
Proceeds from the offering will be used for general corporate purposes.
TD Ameritrade is an Omaha-based securities brokerage firm.
| Issuer: | TD Ameritrade Holding Corp.
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, Citigroup Global Markets Inc., TD Securities (USA) LLC, J.P. Morgan Securities LLC, BofA Merrill Lynch, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC
|
| Trade date: | Oct. 30
|
| Settlement date: | Nov. 1
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Distribution: | SEC registered
|
|
|
| Three-year notes
|
| Amount: | $600 million
|
| Description: | Floating-rate notes
|
| Maturity: | Nov. 1, 2021
|
| Coupon: | Libor plus 43 bps
|
| Price: | Par
|
| Yield: | Libor plus 43 bps
|
| Call: | Par call on or after Oct. 2, 2021
|
| Price guidance: | Libor plus 55 bps area
|
|
|
| Five-year notes
|
| Amount: | $400 million
|
| Description: | Fixed-rate notes
|
| Maturity: | April 1, 2024
|
| Coupon: | 3.75%
|
| Price: | 99.779
|
| Yield: | 3.796%
|
| Spread: | Treasuries plus 85 bps
|
| Call: | Make-whole call at Treasuries plus 15 bps until March 2, 2024, then a par call
|
| Price guidance: | Treasuries plus low 90 bps area
|
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