SOURCE: TD Bank GroupSUMMARY:DESCRIPTION:
TORONTO, September 29, 2020 /3BL Media/ - Today, The Toronto-Dominion Bank ("TD" or the "Bank") closed a three-year US$500 million sustainability bond maturing on September 28, 2023. The issue marks TD's inaugural sustainability bond and the first to be issued under the Bank's Sustainable Bonds Framework.
The proceeds from this issuance will be used to finance and/or refinance loans, investments and internal or external projects (collectively, “Eligible Assets”) that meet the Framework's criteria for being considered environmentally or socially responsible. Examples of Eligible Assets include green buildings, clean transportation, access to essential services such as healthcare, affordable housing and other eligible categories as described in the Bank's Sustainable Bonds Framework.
"We believe that economic growth and environmental and social sustainability are intrinsically linked, and that TD has a responsibility to play a positive role in fostering both," said Barbara Hooper, Executive Vice President of Treasury, Corporate Development and Strategic Sourcing. "We're excited to build on the momentum of our previous green bond offerings and help support long-term sustainability goals."
On August 31, 2020, TD published its Sustainable Bonds Framework, which broadens the scope of the Bank's previous Green Bond Framework in recognition of the increasing importance of social and governance factors in supporting meaningful and lasting change in the communities that the Bank serves.
"TD takes an integrated approach to environmental, social and governance matters, focusing on both opportunities and risks across its business," said Andrea Barrack, Global Head of Sustainability and Corporate Citizenship. “Today's announcement evidences our commitment to responsibly managing the environmental, social and community aspects of our business."
In 2017, TD was the first Canadian bank to set a bold target to help support the transition to the low-carbon economy – $100 billion, in total, in low-carbon lending, financing, asset management and internal corporate programs by 2030. Today's announcement is the latest effort toward embedding the spectrum of environmental, social and governance (ESG) factors into reaching that goal in the spirit of the TD Ready Commitment, the Bank's global corporate citizenship platform. Other recent initiatives include:
- On September 17, 2020, TD Asset Management Inc. (TDAM) announced the addition of two new mutual funds to its sustainability suite: TD North American Sustainability Equity Fund and TD North American Sustainability Balanced Fund. These new offerings are focused on helping investors achieve their financial goals while aligning their investments with their values to make a positive impact.
- On September 16, 2020, TD Securities announced the formation of the new Sustainable Finance & Corporate Transitions Group. This new group will be the dealer's central point of client coverage, focused on providing thought-leadership and strategic advice for this critical area of growth.
For more information, visit https://www.td.com/investor-relations/ir-homepage/debt-information/sustainable-bonds/sustainable-bonds.jsp
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by branches and serves over 26 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in TD Ameritrade; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with more than 14 million active online and mobile customers. TD had CDN$1.7 trillion in assets on July 31, 2020. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
Lynsey Wynberg, Senior Manager, Corporate and Public Affairs, firstname.lastname@example.org
KEYWORDS: Sustainability bond, TD Bank Group, TD Sustainable Bonds Framework, NYSE:TD