By Aleesia Forni
Virginia Beach, July 16 – Toronto-Dominion Bank priced a $2 billion issue of fixed-rate and floating-rate senior medium-term notes (Aa1/AA-/), series A, due July 23, 2018 on Thursday, according to a market source.
Included in the sale was a $1.25 billion 1.75% note priced at 99.901 to yield 1.784%, or Treasuries plus 75 basis points.
Pricing was at the tight end of the Treasuries plus 80 bps area guidance, which had tightened from the Treasuries plus 85 bps area.
A $750 million floating-rate note sold at par to yield Libor plus 54 bps.
TD Securities, Goldman Sachs & Co., Citigroup Global Markets Inc. and Wells Fargo Securities LLC are the bookrunners.
The financial services and banking company is based in Toronto.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Senior medium-term notes, series A
|
| Amount: | $2 billion
|
| Bookrunners: | TD Securities, Goldman Sachs & Co., Citigroup Global Markets Inc., Wells Fargo Securities LLC
|
| Trade date: | July 16
|
| Settlement date: | July 23
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA-
|
| Distribution: | SEC-registered
|
|
|
| Three-year notes
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| Amount: | $1.25 billion
|
| Maturity: | July 23, 2018
|
| Coupon: | 1.75%
|
| Price: | 99.901
|
| Yield: | 1.784%
|
| Spread: | Treasuries plus 75 bps
|
| Price guidance: | Treasuries plus 80 bps area, tightened from Treasuries plus 85 bps area
|
|
|
| Three-year floaters
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| Amount: | $750 million
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| Maturity: | July 23, 2018
|
| Coupon: | Libor plus 54 bps
|
| Price: | Par
|
| Yield: | Libor plus 54 bps
|
| Price guidance: | Libor equivalent
|
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