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TD Announces Non-Viability Contingent Capital AT1 CAD Limited Recourse Capital Notes Issue
TD Announces Non-Viability Contingent Capital AT1 CAD Limited Recourse Capital Notes Issue ...
About this update from Toronto-dominion Bank
[{"type":"text","content":"\n\n\n\n TD Announces Non-Viability Contingent Capital AT1 CAD Limited Recourse Capital Notes Issue\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n TORONTO\n \n\n ,\n \n\n Dec. 10, 2024\n \n\n /CNW/ - The Toronto-Dominion Bank (\"TD\") (TSX: TD) (NYSE: TD) today announced the pricing of a Canadian public offering of\n \n C$750 million\n \n of 5.909% Non-Viability Contingent Capital (\"NVCC\") Additional Tier 1 (\"AT1\") Limited Recourse Capital Notes Series 5 (the \"LRCNs\").\n \n\n The LRCNs will bear interest at a rate of 5.909 per cent annually, payable quarterly, for the initial period ending on, but excluding, January 31, 2030. Thereafter, the interest rate on the LRCNs will be reset every five years based on the prevailing 5-year Government of Canada Yield plus 3.10 per cent. The LRCNs will mature on January 31, 2085. The expected closing date of the offering is December 18, 2024. TD Securities is acting as lead agent and sole bookrunner on the issue.\n \n\n Concurrently with the issuance of the LRCNs, TD will issue 750,000 Non-Cumulative 5-Year Fixed Rate Reset NVCC Preferred Shares, Series 32 (\"Preferred Shares Series 32\") to be held by Computershare Trust Company of\n \n Canada\n \n , as trustee for TD LRCN Limited Recourse Trust™ (the \"Limited Recourse Trust\"). In case of non-payment of interest on or principal of the LRCNs when due, the recourse of each LRCN holder will be limited to that holder's proportionate share of the Limited Recourse Trust's assets, which will consist of Preferred Shares Series 32 except in limited circumstances.\n \n\n With the prior written approval of the Superintendent of Financial Institutions (\n \n Canada\n \n ), TD may redeem the LRCNs commencing on\n \n January 1, 2030\n \n , and every five years thereafter, during the period from and including\n \n January 1\n \n to and including\n \n January 31\n \n . TD may redeem the LRCNs in whole or in part on...