TD Bank prints A$2.4 billion dual-tranche covered bond

Friday, 22 July 2022

Updated

Issuer name: The Toronto-Dominion Bank
Issuer rating: AA-/Aa1
Issue rating: Aaa
Pricing date: 21 July 2022
Settlement date: 28 July 2022
Maturity date: 28 July 2025
Lead managers: ANZ, Commonwealth Bank of Australia, DBS Bank, National Australia Bank, TD Securities, Westpac Institutional Bank
Total volume: A$2.4 billion (US$1.7 billion)
Transaction type: covered bond

Volume: A$1.6 billion
Coupon type: FRN
Coupon rate: 3m BBSW +90bp
Issue/re-offer price: par
Margin: 90bp/3m BBSW

Volume: A$850 million
Coupon type: fixed
Coupone rate: 4.5%
Re-offer price: 99.847%
Re-offer yield: 4.555%
Margin: 90bp/s-q swap