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TD Bank upsizes preferred share issuance

Toronto-Dominion Bank has increased the size of its public offering of noncumulative five-year rate reset preferred shares, series 20, to 16 million shares.

The decision was made in light of "strong investor demand" for the shares. The gross proceeds of the offering will now be C$400 million.

The offering will be underwritten by a group of underwriters led by TD Securities Inc. It is expected to close Sept. 13.