TD Bank Completes Offering

On April 30, 2003, The Toronto-Dominion Bank completed an offering of eight million class A first preferred shares, series N for gross proceeds of $200 million. This was the bank’s second offering under its $4 billion shelf prospectus dated December 12, 2002 and follows the successful issuance of 14 million class A first preferred shares, series M on February 3, 2003 for gross proceeds of $350 million.

The bank was represented in-house by Peter Aust, vice-president, capital finance; Norie Campbell, associate vice-president, legal; and Rasha El Sissi, senior counsel; assisted by McCarthy Tétrault LLP with a team that included Philip Moore, Stuart Miller and Wendi Locke (corporate and securities) and Jerald Wortsman (tax).

TD Securities Inc. led the underwriting syndicate, which included CIBC World Markets Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Desjardins Securities Inc. and Trilon Securities Corporation. The underwriters were represented by Fasken Martineau DuMoulin LLP, with a team that included Richard Steinberg and Geoff Clarke (corporate and securities) and Kathleen Hanly (tax).