TD Bank Issues $2.5B Medium Term Notes & Completes $250M Preferred Share

The Toronto-Dominion Bank completed on November 1, 2007 an offering of $2.5 billion of 5.382 per cent Medium Term Notes due November 1, 2017, making it Canada's largest single tranche corporate bond issue. This public offering was completed by a syndicate of dealers led by TD Securities Inc. and which included Scotia Capital Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., HSBC Securities (Canada) Inc., Merrill Lynch Canada Inc., National Bank Financial Inc., Desjardins Securities Inc., J. P. Morgan Securities Canada Inc. and Trilon Securities Corporation.

On the same day the Toronto-Dominion Bank announced that it had completed the offering of 10 million Non-cumulative Class A First Preferred Shares, Series P with a face value of $25.00 per share. The gross proceeds raised under the offering were $250 million. A prospectus supplement to its January 11, 2007 base shelf prospectus in respect of this issue was filed in Canada. This was completed by a syndicate of dealers including TD Securities Inc., 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., Dundee Securities Corporation and Trilon Securities Corporation.

TD Bank's John van Boxmeer, associate vice-president, capital finance, Michael Sheehan, manager, capital finance, Rasha El Sissi, associate vice-president, legal and Jennifer Soward, senior counsel, Legal, were assisted by McCarthy Tétrault LLP's Philip Moore, Wendi Locke and Jo-Anna Brimmer (corporate and securities) and Jerald Wortsman and Mario Abrioux (tax). Acting for the dealers were Fasken Martineau DuMoulin LLP's Richard Steinberg and Adam Inglis (corporate and securities) and Mitchell Thaw (tax).