TD doubles covered bond yield to CIBC as yields rise

By Bill Thornhill
10 Jul 2019

Toronto-Dominion Bank (TD) returned to the covered bond market for the second time this week following its dollar benchmark and, thanks to a late rise in yields, the eight year deal offered more than twice the return of CIBC's eight year issued a week ago.

TD mandated joint leads Banca IMI, Danske Bank, DZ Bank, Natixis, TD Securities and UniCredit on Wednesday for the July 2027 euro covered bond, rated Aaa/AAA by Moody’s and DBRS

The lead managers  simultaneously opened order books with initial price guidance of 13bp area over ...

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