TD closes three-year $500-million green bond

TD Bank Group has closed a three-year US$500 million green bond offering with an underwriting team that aims to promote diversity, the firm said Tuesday.

The transaction marks the bank’s first green bond issuance under its sustainable bonds framework and its fourth ESG-themed corporate bond issuance, bringing the total amount to $3 billion, a release from the firm said.

The proceeds from the issuance will be used to finance loans and investments in green buildings, eco-friendly transportation and renewable energy, among other projects.

The offering was completed through a syndicate of minority, women and veteran-owned businesses that were active joint bookrunners.

“Through this model, TD is able to benefit from the diverse and vast capabilities of these firms, while building on our longstanding commitment to sustainable finance,” said Barbara Hooper, TD Bank Group’s senior executive vice-president for treasury, corporate development, strategic sourcing and real estate, in a statement.

The joint bookrunners are Academy Securities, Inc., R. Seelaus & Co., LLC, Samuel A. Ramirez & Company, Inc. and Siebert Williams Shank & Co., LLC.

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