TD Bank closes offering of C$1.25B of 5.918% Limited Recourse Capital Notes, Series 7
On June 11, 2026, The Toronto-Dominion Bank (“TD Bank”) closed its previously announced offering of C$1.25 billion of 5.918% Limited Recourse Capital Notes, Series 7 (Non-Viability Contingent Capital (NVCC)) (subordinated indebtedness), maturing on July 31, 2086 (the “Notes”). The Notes were issued and sold through a syndicate of agents led by TD Securities Inc.
Concurrently with the issuance of the Notes, TD Bank also issued Non-Cumulative 5-Year Fixed Rate Reset Preferred Shares, Series 34 (Non-Viability Contingent Capital (NVCC)) to be held by Computershare Trust Company of Canada, as trustee of the TD LRCN Limited Recourse Trust.
TD Bank, headquartered in Toronto, Canada, is the sixth largest bank in North America by assets and serves over 28.1 million clients in four key businesses operating in a number of locations in financial centres around the globe.
McCarthy Tétrault LLP advised TD Bank with a team led by Wendi Locke that included Tina Benson, David Badour, Samantha Pettinato, Tamas Toezser, Rahul Bhutani (Business), Sharon Kretchmar (Securities), Michel Ranger, Len Nesbitt and Stephanie Dewey (Tax).
