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TD Bank has approval for Sonia/Libor replacement for 2023 floaters
Chicago, July 7 – Toronto-Dominion Bank announced that bondholders have approved the transition to Sonia as an interest basis from Libor for the £500 million floating-rate series CBL18 covered bonds due Jan. 30, 2023 (ISIN: XS1759748491), according to a news release.
The amendments will be effective from July 30.
The adjusted margin will be 22 basis points.
A meeting was held at 4 a.m. ET on July 7.
The meeting needed a quorum for the extraordinary resolution to pass.
No consent fee will be paid in connection with the proposal.
NatWest Markets plc (+44 20 7678 5222, liabilitymanagement@natwestmarkets.com) and Toronto-Dominion Bank, London Branch (+44 20 7628 2262, tmg@tdsecurities.com) are the solicitation agents.
Lucid Issuer Services Ltd. is the tabulation agent (+44 20 7704 0880, td@lucid-is.com).
Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group. The financial services and banking company is based in Toronto.
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