On Monday, April 13, 2020, the Toronto-Dominion Bank announced a public offering in Canada of $3B CA in medium-term notes (non-viability contingent capital [NVCC]) representing largest corporate bond offering in Canada. The notes were issued and sold by a syndicate of underwriters led by TD Securities Inc.
TD, the second largest bank in Canada in terms of assets, set the price of the ten-year medium-term notes at a fixed rate of 3.105% per year (paid quarterly) until April 22, 2025, and at the three-month bankers’ acceptance rate plus 2.16% thereafter (paid quarterly) until maturity on April 22, 2030.
The Fasken team that advised the syndicate of underwriters led by TD Securities Inc. was composed of Richard Steinberg, Florind Polo and Mitchell Thaw.
