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TD Bank calls C$470 million non-cumulative rate reset preferreds
By Toni Weeks
San Luis Obispo, Calif., Dec. 23 - Toronto-Dominion Bank said it intends to exercise its right to redeem all 10 million outstanding non-cumulative five-year rate reset preferred shares, series AA, and all 8.8 million outstanding non-cumulative five-year rate reset preferred shares, series AC, according to a press release.
The C$250 million of series AA preferreds and C$220 million of series AC preferreds will be redeemed at C$25.00 per share on Jan. 31.
The board also announced the final dividends on the preferreds, which will be paid on Jan. 31 to holders of record on Jan. 8.
CST Trust Co. (800 387-0825 or, in Toronto, 416 68203860) is the registrar and transfer agent for the redemption.
The bank and financial services company is based in Toronto.
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