By Cristal Cody
Tupelo, Miss., June 18 – Toronto-Dominion Bank (Aa1/AA-//DBRS: AA) priced C$1.75 billion of 3.06% medium-term notes due Jan. 26, 2032 on Tuesday at a spread of 168 basis points over the Government of Canada benchmark, according to a market source and a news release.
The non-viability contingent capital notes, which have a long first coupon, priced at 99.964 to yield 3.06%.
The issue will have a fixed rate until Jan. 26, 2027 and thereafter will carry a floating rate at the Bankers’ Acceptance rate plus 133 basis points.
TD Securities Inc. was the bookrunner.
Proceeds will be used for general corporate purposes.
The bank and financial services company is based in Toronto.
Issuer: | Toronto-Dominion Bank
|
Amount: | C$1.75 billion
|
Description: | Fixed-to-floating rate medium-term notes
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Maturity: | Jan. 26, 2032
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Bookrunner: | TD Securities Inc.
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Coupon: | 3.06%; resets Jan. 26, 2027 to floating rate at Bankers’ Acceptance rate plus 133 bps
|
Price: | 99.964
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Yield: | 3.06%
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Spread: | 168 bps over Government of Canada benchmark
|
Call feature: | On or after Jan. 26, 2027 at par
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Trade date: | June 18
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Settlement date: | June 25
|
Ratings: | Moody’s: Aa1
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| S&P: AA-
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| DBRS: AA
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Distribution: | Canada
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