By Cristal Cody
Prospect News, July 12 - Toronto-Dominion Bank priced an upsized C$600 million in two tranches of NHA mortgage-backed notes on Tuesday as part of the quarterly Canada Mortgage and Housing Corp. program, an informed bond source said.
TD Bank priced C$100 million in a 1.6% three-year tranche at 98.833 to yield 2.043%.
The second tranche was upsized to C$500 million from C$300 million. The 2.3% five-year notes priced at 99.136 to yield 2.508%.
TD Securities Inc. was the lead manager.
The pool consists of residential mortgages insured by Canada Mortgage and Housing and originated by Toronto-based TD Bank.
Issuer: | Toronto-Dominion Bank
|
Amount: | C$600 million
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Securities: | NHA mortgage-backed notes
|
Bookrunner: | TD Securities Inc.
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Pricing date: | July 12
|
Settlement date: | July 15
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Distribution: | Canada
|
|
Three-year notes
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Amount: | C$100 million
|
Maturity: | July 1, 2014
|
Coupon: | 1.6%
|
Price: | 98.833
|
Yield: | 2.043%
|
|
Five-year notes
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Amount: | C$500 million
|
Maturity: | July 1, 2016
|
Coupon: | 2.3%
|
Price: | 99.136
|
Yield: | 2.508%
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