NEWS
Paul Hastings Advises the Underwriters in Toronto-Dominion Bank’s $750 Million Limited Recourse Capital Notes Offering
September 23, 2025
Paul Hastings LLP represented TD Securities, BofA Securities, Citigroup, NatWest, Société Générale and the other underwriters in connection with an SEC-registered U.S. public offering by Toronto-Dominion Bank (NYSE: TD) of $750 million aggregate principal amount of 6.350% fixed rate reset limited recourse capital notes due 2085 (the LRCNs). Concurrently with the issuance of the LRCNs, Toronto-Dominion Bank issued 750,000 noncumulative 6.350% fixed rate reset preferred shares to be held in the TD LRCN Limited Recourse Trust to satisfy the recourse of noteholders upon specified events.
Partner Jeff Ramsay led the Paul Hastings team, which included of counsel Ryan Brewer and associate Adam Swank.
More details can be found here.
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