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TD Bank to issue C$1.75B medium-term notes


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TD Bank to issue C$1.75B medium-term notes

Toronto-Dominion Bank on Sept. 5 said it is conducting a domestic public offering of C$1.75 billion medium-term notes.

The notes are anticipated to be issued on Sept. 14 and will bear a 3.589% fixed annual interest rate paid semiannually until Sept. 14, 2023. The notes will then bear the three-month bankers' acceptance rate plus 1.06% until they mature Sept. 14, 2028.

The bank will have the option of redeeming the notes including accrued and unpaid interest on or after Sept. 14, 2023, with the approval of Canada's Superintendent of Financial Institutions.

The bank intends to use the net proceeds from the offering for general corporate purposes.

The notes will be issued and sold through a syndicate led by TD Securities Inc.