Libor leaders: TD Securities takes Sonia FRN standards to US
Canadian bank showed US market can handle compounded coupons
This article is part of a Risk.net series on the practical aspects of Libor transition. Find the rest of the coverage here.
June 22, 2018 was a momentous day for Sonia. It was the day when debt investors gave an overwhelming seal of approval to the first benchmark floating rate bond linked to Libor’s successor rate for sterling markets – a £1 billion ($1.27 billion) five-year issue by the European Investment Bank (EIB).
For TD Securities – one of four bookrunners and two structuring advisers
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