TORONTO, June 14, 2021 /CNW/ - The Toronto-Dominion
Bank ("TD") (TSX: TD) (NYSE: TD) has been selected by the
Government of Canada's Department
of Finance as one of its two structuring advisors for its inaugural
issuance of green bonds.
TD Securities was selected to advise on the design of
Canada's green bond framework,
assist in the development of the on-going program, and support an
inaugural issuance in the coming year.
"As Canada advances its climate
and sustainability goals, the development of a green bond program
represents a significant milestone in this journey," says
Bob Dorrance, Chairman, CEO and
President, TD Securities. "We're well-positioned to provide trusted
advice and support to our clients, like the Government of
Canada, as they access financial
markets and work towards achieving their sustainability
objectives."
TD was the first North American bank to become carbon neutral in
2010 and in 2020, became the first Canadian bank to target net-zero
GHG emissions associated with its operating and financing
activities by 2050. TD has also contributed over $56 billion of our $100
billion low-carbon economy target through our low-carbon
lending, financing, asset management and internal corporate
programs in the last four years.
To support clients around the world transition to a low-carbon
economy, TD Securities created the Sustainable Finance and
Corporate Transitions Group.
"Green and sustainable bonds are one way of increasing the flow
of capital to low-carbon and socially responsible projects needed
for a prosperous economy. We are proud to work with the Government
of Canada on this important
initiative," says Amy West, Managing
Director, Global Head of Sustainable Finance and Corporate
Transitions, TD Securities.
For the seventh consecutive year, TD was listed on the Dow Jones
Sustainability World Index and was the only North American bank
included in the 2020 ranking – a further testament to our
leadership incorporating ESG practices into our business. TD is a
proud member of the Green Bond Principles (GBP), the Social Bond
Principles (SBP), the Sustainability Bond Guidelines (SBG), the
Sustainability-Linked Bond Principles (SLBP) referred to as the
'Principles' and is an active participant in a number of
International Capital Market Association (ICMA) working groups.
A long-standing record of environmental leadership:
- TD issued a US$500 million
sustainability bond which was upsized from US$300 million and was the first-ever
sustainability bond in SOFR format. (2020)
- TD issued a US$1 billion green
bond that was upsized from US$500
million. (2017)
- First Canadian company to join the CDP Supply Chain Program
(2016)
- First Canadian company to join RE100, committing to 100%
renewable energy (2016)
- First Canadian commercial bank to issue a C$500 million green bond. (2014)
- TD has been underwriting World Bank Climate Bonds since 2009,
and in 2010 became the first North American-based carbon neutral
bank.
- Participated in underwriting over C$35
billion in green bonds (since 2010)
- First North American-based bank to become carbon neutral
(2010)
- Only Canadian bank listed on the DJSI World Index of most
sustainable companies (2014, 2015, 2016, 2017, 2020)
The TD Securities Government Finance Group has been consistently
ranked a top 2 dealer for domestic and global markets issuance for
Canadian public sector debt issuers and recognized among the top
underwriters of Canadian Government Debt by Bloomberg's annual
league tables over the last 10 years. A leader in the Canadian
sustainable finance space, they are also rated Most Helpful Trader
in Canadian Provincials in Greenwich's 2020 Most Helpful Traders and
Analysts – Canada listing.
As part of the Federal Government's announcement, HSBC was also
named as a structuring advisor. As announced by the Federal
Government on June 11, appointing
structuring advisors is in line with other national governments
that have issued green bonds, and is the first of multiple
milestones of the Federal Government in advance of issuing
Canada's inaugural green bond in
2021-22.
Caution Regarding Forward-Looking Information
From time to time, The Toronto-Dominion Bank (the "Bank" or
"TD") makes written and/or oral forward-looking statements,
including in this document, in other filings with Canadian
regulators or the United States
(U.S.) Securities and Exchange Commission (SEC), and in other
communications. In addition, representatives of the Bank may make
forward-looking statements orally to analysts, investors, the media
and others. All such statements are made pursuant to the "safe
harbour" provisions of, and are intended to be forward-looking
statements under, applicable Canadian and U.S. securities
legislation, including the U.S. Private Securities Litigation
Reform Act of 1995. Forward-looking statements include, but are not
limited to, statements made in this document, statements made in
the Bank's Management's Discussion and Analysis for the quarter
ended April 30, 2021 ("Q2 2021
MD&A") under the headings "How we Performed, including under
the sub-headings "Economic Summary and Outlook" and "The Bank's
Response to COVID-19" and under the heading "Managing Risk",
statements made in the Bank's Management's Discussion and Analysis
("2020 MD&A") in the Bank's 2020 Annual Report under the
headings "Economic Summary and Outlook" and "The Bank's Response to
COVID-19", for the Canadian Retail, U.S. Retail, and Wholesale
Banking segments under headings "Key Priorities for 2021", and for
the Corporate segment, "Focus for 2021", and in other statements
regarding the Bank's objectives and priorities for 2021 and beyond
and strategies to achieve them, the regulatory environment in which
the Bank operates, the Bank's anticipated financial performance,
and the potential economic, financial and other impacts of the
Coronavirus Disease 2019 (COVID-19). Forward-looking statements are
typically identified by words such as "will", "would", "should",
"believe", "expect", "anticipate", "intend", "estimate", "plan",
"goal", "target", "may", and "could".
By their very nature, these forward-looking statements require
the Bank to make assumptions and are subject to inherent risks and
uncertainties, general and specific. Especially in light of the
uncertainty related to the physical, financial, economic,
political, and regulatory environments, such risks and
uncertainties – many of which are beyond the Bank's control and the
effects of which can be difficult to predict – may cause actual
results to differ materially from the expectations expressed in the
forward-looking statements. Risk factors that could cause,
individually or in the aggregate, such differences include:
strategic, credit, market (including equity, commodity, foreign
exchange, interest rate, and credit spreads), operational
(including technology, cyber security, and infrastructure), model,
insurance, liquidity, capital adequacy, legal, regulatory
compliance and conduct, reputational, environmental and social, and
other risks. Examples of such risk factors include the economic,
financial, and other impacts of the COVID-19 pandemic; general
business and economic conditions in the regions in which the Bank
operates; geopolitical risk; the ability of the Bank to execute on
long-term strategies and shorter-term key strategic priorities,
including the successful completion of acquisitions and
dispositions, business retention plans, and strategic plans;
technology and cyber security risk (including cyber-attacks or data
security breaches) on the Bank's information technology, internet,
network access or other voice or data communications systems or
services; model risk; fraud to which the Bank is exposed; the
failure of third parties to comply with their obligations to the
Bank or its affiliates, including relating to the care and control
of information, and other risks arising from the Bank's use of
third-party service providers; the impact of new and changes to, or
application of, current laws and regulations, including without
limitation tax laws, capital guidelines and liquidity regulatory
guidance and the bank recapitalization "bail-in" regime; regulatory
oversight and compliance risk; increased competition from
incumbents and new entrants (including Fintechs and big technology
competitors); shifts in consumer attitudes and disruptive
technology; environmental and social risk; exposure related to
significant litigation and regulatory matters; ability of the Bank
to attract, develop, and retain key talent; changes to the Bank's
credit ratings; changes in currency and interest rates (including
the possibility of negative interest rates); increased funding
costs and market volatility due to market illiquidity and
competition for funding; Interbank Offered Rate (IBOR) transition
risk; critical accounting estimates and changes to accounting
standards, policies, and methods used by the Bank; existing and
potential international debt crises; environmental and social risk;
and the occurrence of natural and unnatural catastrophic events and
claims resulting from such events.
The Bank cautions that the preceding list is not exhaustive of
all possible risk factors and other factors could also adversely
affect the Bank's results. For more detailed information, please
refer to the "Risk Factors and Management" section of the 2020
MD&A, as may be updated in subsequently filed quarterly reports
to shareholders and news releases (as applicable) related to any
events or transactions discussed under the headings "Significant
Events" in the relevant MD&A, which applicable releases may be
found on www.td.com. All such factors should be considered
carefully, as well as other uncertainties and potential events, and
the inherent uncertainty of forward-looking statements, when making
decisions with respect to the Bank and the Bank cautions readers
not to place undue reliance on the Bank's forward-looking
statements.
Material economic assumptions underlying the forward-looking
statements contained in this document are set out in the 2020
MD&A under the headings "Economic Summary and Outlook" and "The
Bank's Response to COVID-19", for the Canadian Retail, U.S. Retail,
and Wholesale Banking segments, "Key Priorities for 2021", and for
the Corporate segment, "Focus for 2021", each as may be updated in
subsequently filed quarterly reports to shareholders.
Any forward-looking statements contained in this document
represent the views of management only as of the date hereof and
are presented for the purpose of assisting the Bank's shareholders
and analysts in understanding the Bank's financial position,
objectives and priorities and anticipated financial performance as
at and for the periods ended on the dates presented, and may not be
appropriate for other purposes. The Bank does not undertake to
update any forward-looking statements, whether written or oral,
that may be made from time to time by or on its behalf, except as
required under applicable securities legislation.
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 fifth
largest bank in North America by assets 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 The Charles Schwab
Corporation; and Wholesale Banking, including TD Securities.
TD also ranks among the world's leading online financial services
firms, with more than 15 million active online and mobile
customers. TD had CDN$1.7 trillion in assets
on April 30, 2021. The Toronto-Dominion Bank trades under the
symbol "TD" on the Toronto and New York Stock
Exchanges.
SOURCE TD Bank Group