By Aleesia Forni
Virginia Beach, April 28 - Toronto-Dominion Bank priced $2.25 billion of senior medium-term notes (Aa1/AA-/), series A, in fixed- and floating-rate tranches due 2017, according to a market source.
A $1 billion tranche of floating-rate notes due May 2, 2017 sold at par to yield Libor plus 24 basis points.
Toronto-Dominion Bank also sold $1.25 billion of 1.125% notes due May 2, 2017 at 99.674 to yield 1.236% or Treasuries plus 35 bps.
The notes sold at the tight end of talk, which was set in the Treasuries plus 37.5 bps area.
TD Securities, Barclays, J.P. Morgan Securities LLC and Wells Fargo Securities LLC were the joint bookrunners.
Proceeds will be added to the company's general funds and will be used for general corporate purposes.
The financial services and banking company is based in Toronto.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Senior medium-term notes, series A
|
| Amount: | $2.25 billion
|
| Joint bookrunners: | TD Securities, Barclays, J.P. Morgan Securities LLC, Wells Fargo Securities LLC
|
| Trade date: | April 28
|
| Settlement date: | May 2
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| Distribution: | SEC-registered
|
|
|
| Three-year floaters
|
| Amount: | $1 billion
|
| Maturity: | May 2, 2017
|
| Coupon: | Libor plus 24 bps
|
| Price: | Par
|
| Yield: | Libor plus 24 bps
|
| Price talk: | Libor equivalent to three-year notes
|
|
|
| Three-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | May 2, 2017
|
| Coupon: | 1.125%
|
| Price: | 99.674
|
| Yield: | 1.236%
|
| Spread: | Treasuries plus 35 bps
|
| Price talk: | Treasuries plus 37.5 bps area
|
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