Toronto-Dominion Bank raked in orders more than three times the offered size for the largest euro-denominated bail-in bond out of Canada yet in a fresh sign of the strong international investor demand for debt issued by the country’s lenders.
Canada’s second largest bank by assets received more than 4.5 billion euros ($5.2 billion) of orders for 1.5 billion euros of five-year bonds, which were marketed in the area of 40 basis points above the mid-swaps rate, according to data compiled by Bloomberg. The deal was priced at a spread of 38 basis points.