11:16 AM EDT, 10/30/2024 (MT Newswires) -- Toronto-Dominion Bank ( MLWIQXX ) said Wednesday it is looking to raise 20 billion yen ($130.4 million) from a private placement offering of fixed-rate reset subordinated notes.

The notes will mature on Oct. 30, 2034 and will carry a fixed annual interest rate of 1.601% until Oct. 30, 2029. Thereafter, the rate will be pegged at the Japanese government bond yield plus 1.032% until maturity, the lender said.

The notes can qualify as Tier 2 capital and are redeemable on Oct. 30, 2029 at par plus accrued and unpaid interest, it said.

The bank plans to use the proceeds for general corporate purposes, which may include capital securities redemption and debt repayment.

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