By Cristal Cody
Prospect News, Feb. 10 - Toronto-Dominion Bank sold C$500 million 2.75% NHA Mortgage-Backed Securities Program notes due Jan. 1, 2016 at 98.854 to yield 3.029% on Thursday, an informed source said.
The notes priced in line with guidance at a spread of 50 basis points over the Canadian bond curve.
TD Securities Inc. was the lead manager. Co-managers were RBC Capital Markets Corp., BMO Capital Markets Corp., Scotia Capital Inc., CIBC World Markets Inc. and Desjardins Securities Inc.
The pool consists of residential mortgages insured by the Canada Mortgage and Housing Corp. The mortgages were originated by Toronto-based TD Bank.
| Issuer: | Toronto-Dominion Bank
|
| Amount: | C$500 million
|
| Maturity: | Jan. 1, 2016
|
| Securities: | Mortgage-backed securities
|
| Bookrunner: | TD Securities Inc.
|
| Co-managers: | RBC Capital Markets Corp., BMO Capital Markets Corp., Scotia Capital Inc., CIBC World Markets Inc., Desjardins Securities Inc.
|
| Coupon: | 2.75%
|
| Price: | 98.854
|
| Yield: | 3.029%
|
| Spread: | 50 bps over Canadian bond curve
|
| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 15
|
| Distribution: | Canada
|
| Price talk: | 50 bps
|
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