TD Bank Issues $400M Common Shares

Toronto-Dominion Bank successfully completed a common share offering on November 1, 2001, under which approximately 11 million common shares were issued for gross proceeds of $400 million. The proceeds of the offering will be used, in part, to fund TD Bank’s tender offer for all of the approximately 12 per cent of the outstanding shares of TD Waterhouse Group Inc.’s common stock that TD Bank does not already own.

TD Bank’s associate vice-president, legal, Norie Campbell, was assisted by McCarthy Tétrault LLP’s Philip C. Moore, Stuart Miller and Richard T. Shimoda (securities) and Jerald M. Wortsman (tax). Fasken Martineau DuMoulin LLP’s Richard Steinberg and Aaron Atkinson (securities) and Douglas Cannon (tax) provided legal advice to the underwriting syndicate, led by TD Securities Inc.