Toronto-Dominion May Raise $15 Billion

Toronto-Dominion Bank (TD) has filed a shelf registration that will allow it to raise up to $15 billion through the sale of senior debt securities.

The Toronto company, which owns TD Bank in the U.S., said Wednesday in a filing with the Securities and Exchange Commission that it will use the proceeds from any sales for its general funds and general corporate purposes. The company is one of the few banks that is aggressively opening branches in the U.S. and its chief executive said recently that it intends to open roughly 50 branches in New York City alone over the next four years.

The debt securities will be unsecured and unsubordinated deposit liability obligations. The bank may sell the securities from time to time through agents, underwriters, dealers or directly to one or more purchaser.