TD Bank Group Inaugural US$ Green Bond Upsized to US$1 Billion
Green Bond Will Help Build Low Carbon Green Projects Across North America
September 12, 2017 /3BL Media/ - TD Bank Group (TD) (TSX: TD) announced today that it closed on the issuance of a US$1 billion green bond, its first in US dollars and one of the largest green bonds ever issued by a bank. Initially targeting an issue size of US$500 million, the transaction was upsized to US$1 billion and almost 70% of the issue went to green investors.
"As an underwriter, investor and now repeat issuer of green bonds, TD is a North American leader in delivering environmentally and socially responsible options to our clients," said Amy West, Head of Socially Responsible Finance at TD Securities. "We are thrilled with the response to our inaugural US dollar green bond issue, one of the largest from a financial institution."
TD has a long-standing record of environmental leadership:
- Financing of C$12 billion to the low carbon sector (since 2006)
- Participated in underwriting over C$6.5 billion in green bonds (since 2010)
- First and only Canadian bank to issue a green bond (2014)
- First North American-based bank to become carbon neutral (2010)
- First Canadian company to join the CDP Supply Chain Program (2016)
- First Canadian company to join RE100, committing to 100% renewable energy (2016)
- Listed on the DJSI World Index of most sustainable companies for four years in a row, and the only Canadian bank listed in 2015, 2016, 2017
"We are seeing an exciting level of growth in the green bond market as investors recognize the opportunities associated with the transition to the low carbon economy," said Karen Clarke-Whistler, Chief Environment Officer, TD Bank Group. "Participating in the green bond market is core to TD's low carbon business strategy and the success of our second green bond highlights the unique opportunity for financial institutions. Through our financing activities, we can play a pivotal role in building the infrastructure needed for a prosperous low carbon economy."
To read the full press release, visit td.com.