By Cristal Cody
Tupelo, Miss., July 22 – Toronto-Dominion Bank (Aa1/AA-/AA-) priced $175 million of senior fixed-to-floating rate notes due July 22, 2022 at par to yield 2.75%, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will have a fixed rate of 2.75% in the first year and in the second and third years will bear a floating rate of Libor plus 35 basis points.
Bookrunners were BofA Securities, Inc. and TD Securities (USA) LLC.
The bank and financial services company is based in Toronto.
| Issuer: | Toronto-Dominion Bank
|
| Amount: | $175 million
|
| Description: | Series D senior fixed-to-floating rate notes
|
| Maturity: | July 22, 2022
|
| Bookrunners: | BofA Securities, Inc. and TD Securities (USA) LLC
|
| Coupon: | 2.75%; resets in second and third years to floating rate of Libor plus 35 bps
|
| Price: | Par
|
| Yield: | 2.75%
|
| Pricing date: | July 18
|
| Settlement date: | July 22
|
| Ratings: | Moody’s: Aa1
|
| S&P: AA-
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
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