TD Bank Group to Issue NVCC Subordinated Debentures

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, April 2, 2024 /CNW/ - The Toronto-Dominion Bank ("TD" or the "Bank") today announced a domestic public offering of $1.75 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 April 9, 2024 and will bear interest at a fixed rate of 5.177% per annum (paid semi-annually) until April 9, 2029, and at Daily Compounded CORRA plus 1.53% thereafter (paid quarterly) until maturity on April 9, 2034.

The Bank may, at its option, with the prior approval of the Superintendent of Financial Institutions (Canada), redeem the Notes on or after April 9, 2029, 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.  Net proceeds from the issuance of the Notes will be used for general corporate purposes.

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.

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 27.5 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 $1.91 trillion in assets on January 31, 2024. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.

SOURCE TD Bank Group