Toronto Domin Stock Price, News & Analysis

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.

TD Bank has launched the TD Home Access Mortgage, aimed at increasing homeownership opportunities for Black and Hispanic communities. This mortgage product features a $5,000 lender credit for closing costs and flexible debt-to-income ratios. It targets barriers identified in a recent survey where 46% of respondents cited down payment savings as a roadblock. The mortgage is available in multiple states from Maine to Florida, applicable for various residential properties and both purchase and refinance transactions.

TD Bank Group has signed a definitive agreement to acquire First Horizon Corporation in an all-cash transaction valued at US$13.4 billion, or US$25.00 per common share. This acquisition aims to enhance TD's presence in the Southeastern U.S., offering immediate scale and growth opportunities. Upon completion, First Horizon CEO Bryan Jordan will join TD as Vice Chair. The deal is expected to be immediately accretive to TD's adjusted EPS and generate approximately US$610 million in pre-tax cost synergies. The transaction is anticipated to close in Q1 of TD’s 2023 fiscal year.

TD Bank Group has announced an all-cash deal to acquire First Horizon for US$13.4 billion, or US$25.00 per common share. This acquisition positions TD as a top 6 U.S. bank with approximately US$614 billion in assets and a network of 1,560 branches across 22 states. The transaction is expected to be immediately accretive to adjusted EPS and generate approximately US$610 million in pre-tax cost synergies. TD aims to expand First Horizon's community investments and retain all client-facing bankers. The deal is subject to regulatory approvals and expected to close in Q1 2023.

Recent findings from the Treasury Perspectives Survey, sponsored by TD Bank and Strategic Treasurer, indicate a resurgence in optimism among businesses following two years of uncertainty due to COVID-19. The survey reveals that 76% of companies anticipate increased sales and revenue in 2022, a notable rise from previous years. Additionally, many organizations report adaptions in workplace policies, particularly regarding remote work. The results suggest a stabilization to pre-pandemic outlooks, with significant improvements in growth metrics, marking a turning point for corporate treasury and finance departments.

TD has awarded $3,025,000 in grants to six U.S. organizations through the 2021 TD Ready Challenge. These funds will support initiatives aimed at addressing pandemic-related learning loss in K-12 students, particularly those from disadvantaged backgrounds. The grant recipients include organizations in Florida, Pennsylvania, New York, and New England, with awards ranging from $325,000 to $1,000,000. This initiative is part of TD's broader commitment to community enhancement and equitable recovery post-COVID-19.