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TORONTO, July 18, 2022 /CNW/ – The Toronto-Dominion Bank (“TD Bank Group” or “TD”) (TSX: TD) (NYSE: TD) today announced a domestic public offering of Non-Cumulative 5-Year Fixed Rate Reset Preferred Shares (non-viability contingent capital (NVCC)), Series 28 (the “Series 28 Shares”).
TD will issue to certain institutional investors 800 thousand Series 28 Shares priced at $1,000 per share to raise gross proceeds of $800 million. TD Securities is acting as lead agent and sole bookrunner on the issue. The expected closing date is July 25, 2022.
The Series 28 Shares will yield 7.236 per cent annually (on a dividend rate of 7.232 per cent annually), with dividends payable semi-annually, as and when declared by the Board of Directors of TD, for the initial period ending October 31, 2027….