By Cristal Cody
Tupelo, Miss., March 30 – Toronto-Dominion Bank priced $1.25 billion of 1.45% three-year covered bonds at mid-swaps plus 100 basis points, or a Treasuries plus 114.25 bps spread, on Friday, according to a market source.
Initial price talk on the bonds (Aaa//DBRS: AAA) was in the mid-swaps plus 100 bps area.
TD Securities (USA) LLC, Credit Suisse Securities (USA) LLC and UBS Securities LLC were the bookrunners.
The bank and financial services company is based in Toronto.
| Issuer: | Toronto-Dominion Bank
|
| Amount: | $1.25 billion
|
| Description: | Covered bonds
|
| Maturity: | April 3, 2023
|
| Bookrunners: | TD Securities (USA) LLC, Credit Suisse Securities (USA) LLC and UBS Securities LLC
|
| Coupon: | 1.45%
|
| Spread: | Mid-swaps plus 100 bps, or Treasuries plus 114.25 bps
|
| Trade date: | March 27
|
| Ratings: | Moody’s: Aaa
|
| DBRS: AAA
|
| Price guidance: | Mid-swaps plus 100 bps area
|
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