TD Securities Co-Structures First-Ever Green Bond Issuance for Government of Canada

Rhea-AI Summary

Toronto-Dominion Bank announced its role in Canada's inaugural $5 billion green bond issuance as Co-Structuring Adviser and Joint Lead Manager. This bond aims to fund green infrastructure and nature conservancy projects, aligning with Canada's environmental objectives. TD has a history of sustainability leadership, targeting net-zero GHG emissions by 2050. The bank has also contributed $86 billion towards its $100 billion low-carbon economy goal. This issuance marks a significant step in the development of the Canadian sustainable finance market.

Positive

• Role as Co-Structuring Adviser and Joint Lead Manager for Canada's largest green bond issuance ($5 billion).
• Leadership in sustainable finance with a history of significant contributions to low-carbon initiatives ($86 billion contributed towards a $100 billion target).
• Recognition on the Dow Jones Sustainability World Index for eight consecutive years.

Negative

• None.

Largest green bond to-date in Canada

TORONTO, March 23, 2022 /PRNewswire/ - 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.

View original content:https://www.prnewswire.com/news-releases/td-securities-co-structures-first-ever-green-bond-issuance-for-government-of-canada-301509244.html

SOURCE TD Bank Group

FAQ

What is the significance of TD's involvement in the green bond issuance?

TD's involvement as Co-Structuring Adviser in Canada's first $5 billion green bond issuance highlights its leadership in sustainable finance and commitment to supporting environmental projects.

When was the green bond issued by the Government of Canada?

The Government of Canada's inaugural green bond was issued on March 23, 2022.

How much has TD contributed to low-carbon initiatives?

TD has contributed $86 billion towards its $100 billion low-carbon economy target over the past four years.

What are TD's sustainability goals?

TD aims for net-zero greenhouse gas emissions associated with its operations and financing activities by 2050.

What is the stock symbol for Toronto-Dominion Bank?

The stock symbol for Toronto-Dominion Bank is 'TD', and it trades on the Toronto and New York Stock Exchanges.