By Andrea Heisinger
New York, March 5 - Toronto-Dominion Bank sold $3 billion of 1.5% five-year covered bonds on Monday to yield mid-swaps plus 45 basis points, or 70.6 bps over Treasuries, a market source said.
The bonds (Aaa/AAA/) were priced in line with guidance, the source said. They were sold under Rule 144A and Regulation S.
Full terms were not available at press time.
Barclays Capital Inc., BNP Paribas Securities Corp., RBC Capital Markets LLC and TD Securities (USA) LLC were the bookrunners.
The bank and financial services company is based in Toronto.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Covered bonds
|
| Amount: | $3 billion
|
| Maturity: | 2017
|
| Bookrunners: | Barclays Capital Inc., BNP Paribas Securities Corp., RBC Capital Markets LLC, TD Securities (USA) LLC
|
| Coupon: | 1.5%
|
| Spread: | Mid-swaps plus 45 bps, Treasuries plus 70.6 bps
|
| Distribution: | Rule 144A and Regulation S
|
| Trade date: | March 5
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Price talk: | Mid-swaps plus 45 bps area
|
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