DBRS Assigns Final Rating to TD’s Non-Viability Contingent Capital Preferred Shares of Pfd-2, Stable

DBRS has today finalized the rating of Pfd-2 with a Stable trend on The Toronto-Dominion Bank’s (the Bank or TD) Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 1 (NVCC Preferred Shares Series 1).

Following the review of documentation associated with the recent offering, DBRS has confirmed that the terms of the issuance are consistent with those reviewed at the time of the provisional rating’s assignment on May 26, 2014. For further details on the provisional rating, please see the DBRS press release of that date entitled, “DBRS Assigns Provisional Rating to TD’s Non-Viability Contingent Capital Preferred Shares of Pfd-2, Stable.”

The aggregate gross proceeds from the NVCC Preferred Shares Series 1 totalled $500 million. Proceeds from the issuance will be used for general business purposes.

For more information on DBRS’s methodologies and criteria or the banking industry, visit www.dbrs.com or contact us at info@dbrs.com.

Notes:
The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

The applicable methodology is Rating Bank Capital Securities – Subordinated, Hybrid, Preferred & Contingent Capital Securities (December 2013), which can be found on our website under Methodologies.