The Firm represented The Toronto-Dominion Bank (“TD”) in connection with its U.S. public offering of US$1 billion aggregate principal amount of its 5.146% Non-Viability Contingent Capital Subordinated Notes due 2034 (the “Notes”). The net proceeds from the offering 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.
TD is the sixth largest bank in North America by assets and serves over 27.5 million customers. TD also ranks among the world's leading online financial services firms, with more than 17 million active online and mobile customers. TD had CDN$1.97 trillion in assets on July 31, 2024.
The Simpson Thacher team included Lesley Peng, Matt Petrone, Albert Murzakhanov, Shuhan Zhang and Leandra Kede Yomo (Capital Markets); Andrew Purcell, Jonathan Cantor and Kris Liu (Tax); Spencer Sloan (Bank Regulatory); and Jeanne Annarumma (ERISA).