TD Securities acted as joint lead manager for the Government of Canada's Ukraine Sovereignty Bond to support the Government of Ukraine through Russia's illegal invasion.
The use of proceeds of the C$500million ($365 million) five-year bond were used to provide essential services to Ukrainians, such as pensions, the purchasing of fuel before winter, and restoring energy infrastructure.
The Government of Canada played a key role in the creation of the IMF's multi-donor Administered Account for Ukraine, which assisted Ukraine in meeting its balance of payments and budgetary needs, and in stabilising the Ukrainian economy.
Amy West, managing director and global head of ESG Solutions at TD Securities, commented: "TD Securities is proud to have worked with the Government of Canada as a joint bookrunner on their inaugural Ukraine Sovereignty Bond, the first of its kind social bond, with proceeds used to provide essential services and resources to Ukrainian communities affected by the war."
TD was also the sole bookrunner in the reopening of the Council of Europe Development Bank’s €1 billion seven-year Social Inclusion Bond (SIB), following a €100 million investment by the Bank of Lithuania to bolster the development bank's response to Ukrainian refugees seeking safety from the war.
TD Securities is an active member of multiple industry associations including ICMA, the Canadian Fixed Income Forum, and the Government of Canada's Sustainable Finance Action Council which is leading the development of the Canadian Transition Taxonomy.
TD Securities underwrote the largest volume of global green, social, sustainability, and sustainability-linked bonds of any Canadian bank in the period eligible for the Bond Awards, totalling approximately $13 billion.