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TD Bank Group to Issue EUR NVCC Subordinated Debentures
TD Bank Group to Issue EUR NVCC Subordinated Debentures Canada NewsWire /NO...
About this update from Toronto-dominion Bank
[{"type":"text","content":"\n\n\n\n TD Bank Group to Issue EUR NVCC Subordinated Debentures\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\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\n\n TORONTO\n \n\n ,\n \n\n Jan. 14, 2025\n \n\n /CNW/ - The Toronto-Dominion Bank (\"TD\" or the \"Bank\") (TSX: TD) (NYSE: TD) today announced the pricing of a public offering of\n \n EUR 750 million\n \n of Fixed Rate Reset Subordinated Notes (Non-Viability Contingent Capital (NVCC)) constituting subordinated indebtedness of the Bank (the \"Notes\").\n \n\n The Notes will bear interest at a fixed rate of 4.030% per annum (paid annually) until\n \n January 23, 2031\n \n , and at the 5-year mid-swap rate plus 1.500% thereafter (paid annually) until maturity on\n \n January 23, 2036\n \n . The Bank may, at its option, with the prior approval of the Superintendent of Financial Institutions (\n \n Canada\n \n ), redeem the Notes on\n \n January 23, 2031\n \n , 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\n \n January 23, 2025\n \n .\n \n\n 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.\n \n\n Barclays, Commerzbank, Deutsche Bank, Natixis, and TD Securities are the managers on the issue.\n \n\n 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\n \n the United States\n \n absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell securities in\n \n the United States\n \n .\n \n\n\n About TD Bank Group\n \n\n\n The Toronto-Dominion Bank and its sub...