By Aleesia Forni
Virginia Beach, Va., Sept. 5 - Toronto-Dominion Bank priced its notes issue (Aa3/A+/) in three parts on Thursday, according to an informed source.
The bank sold $2.5 billion floating-rate notes due 2016 at par to yield Libor plus 46 basis points.
There was also a $500 million fixed-rate tranche of 1.5% three-year notes priced with a spread of Treasuries plus 62 bps.
The notes priced at the tight end of the Treasuries plus 65 bps area talk.
A $750 million issue of 2.625% notes due 2018 sold with a spread of Treasuries plus 82 bps, tight of the Treasuries plus 85 bps area talk.
Pricing was at 99.819 to yield 2.664%.
Citigroup Global Markets Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC and TD Securities are the joint bookrunners.
The financial services and banking company is based in Toronto.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Notes
|
| Amount: | $3.75 billion
|
| Bookrunners: | Citigroup Global Markets, Goldman Sachs & Co., Morgan Stanley & Co. LLC, TD Securities
|
| Trade date: | Sept. 5
|
| Settlement date: | Sept. 10
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
|
|
| Three-year floaters
|
| Amount: | $2.5 billion
|
| Maturity: | Sept. 9, 2016
|
| Coupon: | Libor plus 46 bps
|
| Price: | Par
|
| Yield: | Libor plus 46 bps
|
|
|
| Three-year notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 9, 2016
|
| Coupon: | 1.5%
|
| Price: | 99.790
|
| Yield: | 1.572%
|
| Spread: | Treasuries plus 62 bps
|
| Price talk: | Treasuries plus 65 bps area
|
|
|
| Five-year notes
|
| Amount: | $750 million
|
| Maturity: | Sept. 10, 2018
|
| Coupon: | 2.625%
|
| Price: | 99.819
|
| Yield: | 2.664%
|
| Spread: | Treasuries plus 82 bps
|
| Price talk: | Treasuries plus 85 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
