Largest green bond to-date in Canada
TORONTO, March 23,
2022 /CNW/ - The Toronto-Dominion Bank ("TD")
announced today that TD Securities Inc. was Co-Structuring Adviser
and a Joint Lead Manager on the Government of Canada's inaugural $5
billion green bond issuance. As announced on June 14, 2021, TD Securities was one of the
government's two structuring advisors for its inaugural green
bonds.
The inaugural green bond is intended to create financing
opportunities that will go towards projects ranging from green
infrastructure to nature conservancy. With its green bond issuance,
the Government of Canada is
supporting its environmental objectives as well as the development
of the Canadian sustainable finance market.
"This bond will help investors seeking green investment
opportunities and will support government programs with clearly
defined environmental benefits," said Drew
MacIntyre, Vice Chair, TD Securities. "We have been proud to
work on this issuance with the Government of Canada. It is the largest Canadian green bond
issued to date and is a big step forward for sustainable finance
which is an important part of the transition to a greener
economy."
TD has a long-standing history of environmental leadership and
was the first North American bank to become carbon neutral in 2010.
In 2020, TD became the first Canadian bank to target net-zero GHG
emissions associated with its operating and financing activities by
2050 and this year, joined its global peers in setting interim
financed emissions targets for two key sectors, Energy and Power
Generation. TD has also contributed over $86
billion of its $100 billion
low-carbon economy target through low-carbon lending, financing,
asset management and internal corporate programs in the last four
years.
Sustainable finance leadership:
- TD issued a US$500 Million Green
Bond Offering (2021)
- 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 commercial bank to issue a C$500
million green bond (2014)
- TD Securities has been underwriting World Bank Climate Bonds
since 2009
As a further testament to our leadership incorporating
Environmental, Social and Governance practices into our business,
for the eighth consecutive year, TD was listed on the Dow Jones
Sustainability World Index and was the top-ranked North
American-based bank on the World Index in 2021. 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.
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 more than 26 million customers in three key
businesses operating in a number of locations in financial centers
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$1.8 trillion in assets on January 31, 2022. The Toronto-Dominion Bank
trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
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SOURCE TD Bank Group