The Toronto-Dominion Bank (TD) announced the closing of a three-year $500 million green bond offering, with proceeds aimed at financing loans, investments and projects in areas including green buildings, clean transportation and renewable energy, among others.
According to TD, the underwriting syndicate on the offering included minority-, women-, and veteran-owned enterprises (MWVBEs), marking first time that a Canadian bank bond offering has been led by a syndicate group that included MWVBEs as Active Joint Bookrunners. MWVBEs on the deal included Academy Securities, Inc., R. Seelaus & Co, Samuel A. Ramirez & Company, and Siebert Williams Shank & Co.
Barbara Hooper, Senior Executive Vice President, Treasury, Corporate Development, Strategic Sourcing and Real Estate, TD Bank Group, said:
“TD is proud to engage an underwriting team that includes minority-, women- and veteran-owned business enterprises as Active Joint Bookrunners, fostering greater inclusion and promoting progress. Through this model, TD is able to benefit from the diverse and vast capabilities of these firms, while building on our longstanding commitment to sustainable finance.”
The transaction marks TD’s first green bond issuance under its Sustainable Bonds Framework, published in 2020, and the fourth ESG-themed corporate bond issuance. TD issued its first sustainability bond in September 2020, and to date has issued $3 billion of ESG-themed corporate bonds. According to TD, the new bond furthers the bank’s goal of achieving net zero GHG emissions by 2050 across operations and financing activities.
Norie Campbell, Group Head and General Counsel, said:
“At TD, we are committed to a more inclusive and sustainable future and excited to work with our clients and investors to support environmentalEnvironmental criteria consider how a company performs as a steward of nature. and socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. progress through green bonds. TD Securities is proud to be a part of Canada’s first syndicate of active Diversity & Inclusion underwriters that reflects our commitment to advancing a low-carbon economy while furthering diversity in capital markets.”
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