Toronto-Dominion Bank issued $150 million of its 2.500% senior medium-term notes series A due Dec. 14, 2020.

The offer price is 100.23%. The trade date is Dec. 13 and the settlement date is Dec. 20. Interest payments will be semiannually on June 14 and Dec. 14 of each year, beginning in 2017.

The company expects proceeds of $149.9 million after the underwriting commission.

TD Securities (USA) LLC serves as book manager for the offering.