Per The Fourth Period's David Pagnotta, Blues GM Doug Armstrong was spotted at last night's Blackhawks/Leafs game in Toronto. This is fairly significant, as a GM doesn't usually scout a team in person unless a potential trade is in the works. With the Blues having a surplus of defensemen and the Leafs reportedly in the market for a defenseman, perhaps there is a trade already in the works here.
Each of Parayko, Krug and Faulk contain a $6M+ cap hit, which would be extremely difficult for the Leafs to take on without some serious salary retention, as well as the Blues taking back a pricey contract in the deal. The problem there is that the Blues are also very close to the cap, with just $291K in available cap space. It's far more likely that the Leafs and Blues could be discussing a move involving another Blues blueliner. Given the Leafs' newfound love of gritty players, my best guess would be Robert Bortuzzo.