TD Bank Group to Issue Australian Dollar NVCC Subordinated Debentures

Published: 2025-07-11 02:20:22 ET TD.TO

Published on 07/11/2025 at 02:20

The Toronto-Dominion Bank announced the pricing of a private placement offering of AUD 30 million of Fixed-to-Floating Rate Subordinated Notes (Non-Viability Contingent Capital (NVCC)) constituting subordinated indebtedness of the Bank (the "Notes"). The Notes will bear interest at a fixed rate of 5.93% per annum (paid semi-annually) until July 23, 2035, and at the 3-month BBSW rate yield plus 1.500% thereafter (paid quarterly) until maturity on July 23, 2040. The Bank may, at its option, with the prior approval of the Superintendent of Financial Institutions (Canada), redeem the Notes on July 23, 2035, in whole but not in part, at par plus accrued and unpaid interest on not more than 60 nor less than 10 days' notice to holders.

Net proceeds from the issuance of the Notes will be used for general corporate purposes, which may include the redemption of outstanding capital securities and/or the repayment of other outstanding liabilities. The Notes are expected to qualify as Tier 2 capital of TD for regulatory purposes. The Toronto-Dominion Bank, London Branch is the sole manager on the issue.

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell securities in the United States.