Toronto Dominion Bank (TSE:TD) has released an update.
Toronto-Dominion Bank has announced the issuance of US$750 million in 7.250% Fixed Rate Reset Limited Recourse Capital Notes, Series 4, and the creation of 750,000 Non-Cumulative 7.250% Fixed Rate Reset Preferred Shares, Series 31, under a Non-Viability Contingent Capital framework. These securities are set to be issued in coordination with underwriters led by TD Securities (USA) LLC, with provisions for the conversion of preferred shares into common shares in certain circumstances. The offering, which is part of a larger capital strategy, highlights the bank’s commitment to strengthening its financial position and providing potential investors with new opportunities.
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