Toronto Dominion Bank (TSE:TD) has released an update.
Toronto-Dominion Bank has announced a U.S. public offering of $750 million in Limited Recourse Capital Notes with a 7.250% annual interest rate, resetting every five years, maturing in 2084. The offering includes a concurrent issue of Non-Cumulative Fixed Rate Reset Preferred Shares, with the proceeds aimed at supporting general corporate purposes and potentially redeeming outstanding capital securities. The transaction is expected to enhance TD’s regulatory capital, with several major financial institutions managing the book-running.
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