/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
TORONTO, Jan. 27,
2025 /CNW/ - The Toronto-Dominion Bank ("TD" or the
"Bank") today announced a domestic public offering of C$1 billion of medium term notes (non-viability
contingent capital (NVCC)) constituting subordinated indebtedness
of the Bank (the "Notes"). The Notes will be issued and sold
through a dealer syndicate led by TD Securities Inc.
The Notes are expected to be issued on January 31, 2025 and will bear interest at a
fixed rate of 4.231% per annum (paid semi-annually) until
February 1, 2030, and at Daily
Compounded CORRA plus 1.54% thereafter (paid quarterly) until
maturity on February 1, 2035.
The Bank may, at its option, with the prior approval of the
Superintendent of Financial Institutions (Canada), redeem the Notes on or after
February 1, 2030, in whole or in
part, at par plus accrued and unpaid interest on not more than 60
nor less than 10 days' notice to holders.
The net proceeds from this transaction will be used for general
corporate purposes including the redemption of outstanding capital
securities of TD and/or the repayment of other outstanding
liabilities of TD.
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
