Latest news with #Non-ViabilityContingentCapital
Cision Canada
5 days ago
- Business
- Cision Canada
TD Bank Group to Issue Australian Dollar NVCC Subordinated Debentures
TORONTO, /CNW/ - The Toronto-Dominion Bank ("TD" or the "Bank") (TSX: TD) (NYSE: TD) today announced the pricing of a private placement offering of AUD 30 million of Fixed-to-Floating Rate Subordinated Notes (Non-Viability Contingent Capital (NVCC)) constituting subordinated indebtedness of the Bank (the "Notes"). The Notes will bear interest at a fixed rate of 5.93% per annum (paid semi-annually) until July 23, 2035, and at the 3-month BBSW rate yield plus 1.500% thereafter (paid quarterly) until maturity on July 23, 2040. The Bank may, at its option, with the prior approval of the Superintendent of Financial Institutions (Canada), redeem the Notes on July 23, 2035, in whole but not in part, at par plus accrued and unpaid interest on not more than 60 nor less than 10 days' notice to holders. Net proceeds from the issuance of the Notes will be used for general corporate purposes, which may include the redemption of outstanding capital securities and/or the repayment of other outstanding liabilities. The Notes are expected to qualify as Tier 2 capital of TD for regulatory purposes. The Toronto-Dominion Bank, London Branch is the sole manager on the issue. The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell securities in the United States. About TD Bank Group The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves over 27.9 million customers in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Retail, including TD Bank, America's Most Convenient Bank ®, TD Auto Finance U.S., TD Wealth (U.S.); Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among the world's leading online financial services firms, with more than 18 million active online and mobile customers. TD had $2.1 trillion in assets on April 30, 2025. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges. SOURCE TD Bank Group
Cision Canada
08-07-2025
- Business
- Cision Canada
BMO to Redeem Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 33 (Non-Viability Contingent Capital (NVCC)) Français
TORONTO, July 8, 2025 /CNW/ - Bank of Montreal (the "Bank") (TSX: BMO)(NYSE:BMO) today announced its intention to redeem all of its 8,000,000 outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 33 (Non-Viability Contingent Capital (NVCC)) (the "Preferred Shares Series 33") (TSX: for an aggregate total of $200 million on August 25, 2025. The redemption has been approved by the Office of the Superintendent of Financial Institutions. The Preferred Shares Series 33 are redeemable at the Bank's option on August 25, 2025 (the "Redemption Date") at a redemption price of $25.00 per share. Payment of the redemption price will be made by the Bank on the Redemption Date. Separately from the payment of the redemption price, the final quarterly dividend of $0.190875 per share for the Preferred Shares Series 33 announced by the Bank on May 28, 2025 will be paid in the usual manner on August 25, 2025, to shareholders of record on July 30, 2025. Notice will be delivered to holders of the Preferred Shares Series 33 in accordance with the terms thereof. About BMO Financial Group BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.4 trillion as of April 30, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.
Cision Canada
06-06-2025
- Business
- Cision Canada
CIBC to Redeem 2.01% Debentures due July 21, 2030 (NVCC) Français
TORONTO, June 5, 2025 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its intention to redeem all $1.0 billion of its 2.01% Debentures due July 21, 2030 (Non-Viability Contingent Capital (NVCC)) (subordinated indebtedness) (the "Debentures"). In accordance with their terms, the Debentures will be redeemed at 100% of their principal amount on July 21, 2025, together with accrued and unpaid interest up to but excluding the redemption date. Interest on the Debentures will cease to accrue from and after the redemption date. The redemption will be financed out of the general corporate funds of CIBC. Notice will be delivered to registered holders of the Debentures in accordance with the terms outlined in the prospectus supplement for the Debentures. About CIBC CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at
Yahoo
06-06-2025
- Business
- Yahoo
CIBC to Redeem 2.01% Debentures due July 21, 2030 (NVCC)
TORONTO, June 5, 2025 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its intention to redeem all $1.0 billion of its 2.01% Debentures due July 21, 2030 (Non-Viability Contingent Capital (NVCC)) (subordinated indebtedness) (the "Debentures"). In accordance with their terms, the Debentures will be redeemed at 100% of their principal amount on July 21, 2025, together with accrued and unpaid interest up to but excluding the redemption date. Interest on the Debentures will cease to accrue from and after the redemption date. The redemption will be financed out of the general corporate funds of CIBC. Notice will be delivered to registered holders of the Debentures in accordance with the terms outlined in the prospectus supplement for the Debentures. About CIBC CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at SOURCE CIBC - Investor Relations View original content to download multimedia: Sign in to access your portfolio
Cision Canada
06-05-2025
- Business
- Cision Canada
BMO to Redeem $1,250 million Series J Medium-Term Notes (Non-Viability Contingent Capital (NVCC)) (Subordinated Indebtedness) Second Tranche Français
TORONTO, May 6, 2025 /CNW/ - Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced that it intends to redeem all of its $1,250 million Series J Medium-Term Notes (Non-Viability Contingent Capital (NVCC)) (Subordinated Indebtedness) Second Tranche due June 17, 2030 (the "Notes"). The redemption will occur on June 17, 2025 (the "Redemption Date"). The Notes are redeemable at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but excluding, the Redemption Date. Interest on the Notes will cease to accrue from and after the Redemption Date. The redemption has been approved by the Office of the Superintendent of Financial Institutions. Notice will be delivered to holders of the Notes in accordance with the related indenture. About BMO Financial Group BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of January 31, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.
