TD Bank Completes $1.5 Billion Non-Viability Contingent Capital Subordinated Debt Offering
09.15.16
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The Firm represented The Toronto-Dominion Bank (“TD”) in its offering of $1.5 billion of its 3.625% Non-Viability Contingent Capital Subordinated Notes due 2031. The offering closed on September 15, 2016.
TD is the sixth largest bank in North America by branches and serves approximately 25 million customers in three key businesses: Canadian Retail, U.S. Retail and Wholesale Banking. The proceeds from the offering will be added to TD’s general funds and will qualify as Tier 2 capital of TD for regulatory purposes.
The Simpson Thacher team included Andy Keller, John O’Connell, Siobhan Lam, Clark Warthen and Yu Mizutani (Capital Markets); and Jonathan Cantor and Andrew Purcell (Tax).