TD, Scotiabank Issue $11 Billion of Repo-Eligible Bonds
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Toronto-Dominion Bank priced the largest covered bond on record from a Canadian lender on Friday, days after the country’s central bank widened the range of securities it takes as guarantee for repurchase transactions. Bank of Nova Scotia followed with a similar deal Monday.
TD, the country’s second-largest bank by assets, issued C$10 billion ($6.9 billion) of floating-rate covered bonds maturing in 1.5 and 3 years, according to data compiled by Bloomberg. Bank of Nova Scotia priced C$.5.5 billion of 2-year fixed-rate and 3-year floating-rate covered bonds, the data show.