Toll Holdings said it sold US$275 million of notes in the US private placement market for terms of five, seven and 10 years at a margin of 180 basis points over US Treasuries.The proceeds will be converted into Singapore and Hong Kong dollars to refinance Toll's existing shorter term debt, at the same average interest rate, Insto reported.Meanwhile, Australian Rail Track Corporation, rated Aa2 by Moody's, yesterday launched its debut Australian dollar bond.ARTC is seeking to sell A$150 million in seven-year, fixed rate debt. Indicative price guidance set at 150 basis points over swap, Insto reported.