/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
TORONTO, Jan. 14,
2025 /CNW/ - The Toronto-Dominion Bank ("TD" or
the "Bank") (TSX: TD) (NYSE: TD) today announced the pricing of a
public offering of EUR 750 million of
Fixed Rate Reset Subordinated Notes (Non-Viability Contingent
Capital (NVCC)) constituting subordinated indebtedness of the Bank
(the "Notes").
The Notes will bear interest at a fixed rate of 4.030% per annum
(paid annually) until January 23,
2031, and at the 5-year mid-swap rate plus 1.500%
thereafter (paid annually) until maturity on January 23, 2036. The Bank may, at its option,
with the prior approval of the Superintendent of Financial
Institutions (Canada), redeem the
Notes on January 23, 2031, in whole
but not in part, at par plus accrued and unpaid interest on not
more than 60 nor less than 10 days' notice to holders. The expected
closing date of the offering is January 23,
2025.
Net proceeds from the issuance of the Notes will be used for
general corporate purposes, which may include the redemption of
outstanding capital securities and/or the repayment of other
outstanding liabilities. The Notes are expected to qualify as Tier
2 capital of TD for regulatory purposes.
Barclays, Commerzbank, Deutsche Bank, Natixis, and TD Securities
are the managers on the issue.
The Notes have not been and will not be registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent
registration or an applicable exemption from registration
requirements. This press release shall not constitute an offer to
sell securities in the United
States.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively
known as TD Bank Group ("TD" or the "Bank"). TD is the sixth
largest bank in North America by assets and serves
over 27.9 million customers in four key businesses operating in a
number of locations in financial centres around the globe: Canadian
Personal and Commercial Banking, including TD Canada Trust and
TD Auto Finance Canada; U.S. Retail, including TD Bank, America's
Most Convenient Bank®, TD Auto Finance U.S., TD
Wealth (U.S.), and an investment in The Charles Schwab Corporation;
Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD
Insurance; and Wholesale Banking, including TD Securities and TD
Cowen. TD also ranks among the world's leading online financial
services firms, with more than 17 million active online and mobile
customers. TD had $2.06 trillion in assets
on October 31, 2024. The Toronto-Dominion Bank trades under
the symbol "TD" on the Toronto and New York Stock
Exchanges.
SOURCE TD Bank Group