TD Bank completes $350 million preferred share offering

On February 3, 2003, The Toronto-Dominion Bank (TD Bank) successfully completed an offering under which 14,000,000 Class A First Preferred Shares were issued for gross proceeds of $350 million. The offering was the first offering under TD Bank's $4 billion short form base shelf prospectus dated December 12, 2002. The net proceeds of the offering are intended to be used for general banking purposes.

TD Securities Inc. led the underwriting syndicate, which included Scotia Capital Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Desjardins Securities Inc. and Trilon Securities Corporation. The underwriters were represented by Fasken Martineau, with a team that included Richard Steinberg, Geoff Clarke (corporate and securities) and Kathleen Hanly (tax).