By Rebecca Melvin
New York, March 2 – Toronto-Dominion Bank priced $1.5 billion of three-year series C senior fixed-rate notes and floating-rate notes (Aa3/A) in two tranches, according to FWP filings with the Securities and Exchange Commission.
The company sold $750 million of the floating-rate notes at par to yield SOFR plus 35.5 basis points.
It also priced $750 million of 0.55% fixed-rate notes at 99.911 to yield 0.58%, or a spread over Treasuries of 32 bps.
TD Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and NatWest Markets Securities Inc. were the bookrunners.
The notes are non-callable except in certain circumstances for tax reasons.
The bank and financial services company is based in Toronto.
| Issuer: | Toronto-Dominion Bank
|
| Amount: | $1.5 billion
|
| Description: | Senior medium-term fixed- and floating-rate notes
|
| Bookrunners: | TD Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and NatWest Markets Securities Inc.
|
| Co-managers: | Blaylock Van LLC, MFR Securities Inc., Mischler Financial Group Inc. and Samuel A. Ramirez & Co. Inc.
|
| Trade date: | March 1
|
| Settlement date: | March 4
|
| Ratings: | Moody’s: Aa3
|
| S&P: A
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $750 million
|
| Maturity: | March 4, 2024
|
| Coupon: | SOFR plus 35.5 bps
|
| Price: | Par
|
| Yield: | SOFR plus 35.5 bps
|
|
|
| Three-year notes
|
| Amount: | $750 million
|
| Maturity: | March 4, 2024
|
| Coupon: | 0.55%
|
| Price: | 99.911
|
| Yield: | 0.58%
|
| Spread: | Treasuries plus 32 bps
|
|
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