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Monday, February 23, 2026
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TD Bank Group to Issue NVCC Subordinated Debentures

The Toronto-Dominion Bank announced a domestic public offering of $1.5 billion of medium term notes (non-viability contingent capital (NVCC)) constituting subordinated indebtedness of the Bank (the “Notes”).  The Notes will be issued and sold through a dealer syndicate led by TD Securities Inc.

The Notes are expected to be issued on July 25, 2017 and will bear interest at a fixed rate of 3.224% per annum (paid semi-annually) until July 25, 2024, and at the three-month bankers’ acceptance rate plus 1.25% thereafter (paid quarterly) until maturity on July 25, 2029.

The Bank may, at its option, with the prior approval of the Superintendent of Financial Institutions (Canada), redeem the Notes on or after July 25, 2024, in whole or in part, at par plus accrued and unpaid interest on not more than 60 nor less than 30 days’ notice to holders.  Net proceeds from the issuance of the Notes will be used for general corporate purposes.

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell securities in the United States.

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