On December 12, 2024, The Toronto-Dominion Bank (TD) announced a CAD 750 million issuance of Limited Recourse Capital Notes Series 5, set to close on December 18, 2024. The notes carry a 5.909% annual fixed rate until January 31, 2030, resetting every five years thereafter, and mature on January 31, 2085. They qualify as Additional Tier 1 Capital under regulatory standards.

The offering is co-led by TD Securities Inc., RBC Dominion Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., Desjardins Securities Inc., iA Private Wealth Inc., National Bank Financial Inc., Laurentian Bank Securities Inc., Manulife Wealth Inc., Merrill Lynch Canada Inc., and Wells Fargo Securities Canada, Ltd. McCarthy Tétrault LLP advises TD, with Fasken Martineau DuMoulin LLP representing the agents.

This issuance supports TD’s capital adequacy and is targeted at institutional investors.