India, July 10 -- The Toronto-Dominion Bank (TD,TD.TO) announced the pricing of a private placement offering of A$30 million of Fixed-to-Floating Rate Subordinated Notes constituting subordinated indebtedness of the Bank.
According to the company, the Notes will bear interest at a fixed rate of 5.93% per annum (paid semi-annually) until July 23, 2035, and at the 3-month BBSW rate yield plus 1.500% thereafter (paid quarterly) until maturity on July 23, 2040.
The company expects net proceeds from the issuance of the Notes for general corporate purposes, which may include the redemption of outstanding capital securities and/or the repayment of other outstanding liabilities. The Notes are expected to qualify as Tier 2 capital of TD for regula...