TD leads the way for Canadian TLAC in euros

By Tyler Davies
17 Apr 2019

Euro investors have been treated to their first ‘bail-inable’ senior bonds from Canadian banks, as Bank of Nova Scotia followed Toronto-Dominion into the market this week.

TD picked its own bank, BNP Paribas, Citi, Credit Suisse, Goldman Sachs and JP Morgan to arrange the sale of a new five year senior bond on Tuesday.

These joint lead managers started the pricing in the 60bp area over mid-swaps, but soon found that they were inundated ...

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