The Toronto-Dominion Bank (TD Bank) is seeking to raise $621 million through a share sale. The Canadian bank has signed an agreement with a syndicate of underwriters for an issue of eight million common shares at a price of $77.70 per share.
TD Bank has also provided the underwriters an over-allotment option to acquire, on the same terms, up to an additional 1.2 million common shares. The gross proceeds raised under the offering will be $714 million and will be used for general corporate purposes.
Click here for the release from PR Newswire.