TD Bank Issues $800M of Medium Term Notes

On July 26, 2001, The Toronto-Dominion Bank (TD Bank) issued $800 million principal amount of 6 per cent Medium Term Notes due July 26, 2011. This offering was the largest single offering of subordinated indebtedness by a Canadian bank and was the first offering under TD Bank’s $3 billion Medium Term Note program.

Established pursuant to a short-form base shelf prospectus filed on June 6, 2001, in all provinces and territories in Canada, TD Bank’s innovative Medium Term Note program permits the bank to utilize a variety of dealer syndicate arrangements in the offering of particular tranches of Medium Term Notes. In particular, the program permits the appointment of offering-specific dealers to act as TD Bank’s agent for specific tranches of Medium Term Notes, rather than the appointment of a dealer syndicate at the commencement of the program as is the norm for traditional Medium Term Note programs.

Norie Campbell, TD Bank’s Associate Vice-President, Legal, provided legal advice to TD Bank, along with Philip C. Moore, Stuart Miller and Riva H. Richard (securities), and Jerald M. Wortsman (tax) of McCarthy Tétrault LLP. Fasken Martineau DuMoulin LLP’s Richard Steinberg and Jamie Nelson acted on behalf of the dealers, which were led by TD Securities Inc.