TDb Split Corp. Announces Overnight Offering

TORONTO, ONTARIO--(Marketwired - Aug. 18, 2014) - TDb Split Corp. (the "Company") is pleased to announce it has filed a preliminary short form prospectus in each of the provinces of Canada with respect to an offering of Priority Equity Shares and Class A Shares of the Company. The offering will be co-led by National Bank Financial Inc., CIBC, RBC Capital Markets and will also include Scotia Capital Inc., TD Securities Inc., BMO Capital Markets, GMP Securities L.P., Canaccord Genuity Corp. and Raymond James.

The Priority Equity Shares will be offered at a price of $10.20 per Priority Equity Share to yield 5.15% on the issue price and the Class A Shares will be offered at a price of $6.10 per Class A Share to yield 9.83% on the issue price. The closing price on the TSX of each of the Priority Equity Shares and Class A Shares on August 15, 2014 was $10.29 and $6.17, respectively.

Since inception of the Company, the aggregate dividends paid on the Priority Equity Shares have been $3.67 per share and the aggregate dividends paid on the Class A Shares have been $3.05 per share, for a combined total of $6.72. All distributions to date have been made in tax advantage eligible Canadian dividends or capital gains dividends.

The net proceeds of the secondary offering will be used by the Company to invest in common shares of Toronto-Dominion Bank, a leading Canadian Financial institution.

The Company's investment objectives are:

Priority Equity Shares:

1. to provide holders of Priority Equity Shares with cumulative preferential monthly cash dividends (currently $0.525 per annum), and
2. on or about on the date the Company terminates to pay the holders of the Priority Equity Shares an amount per Priority Equity Share equal to $10.00.

Class A Shares:

1. to provide holders of Class A Shares with regular monthly cash dividends (currently $0.600 per annum), and
2. to permit such holders to participate in all growth in the net asset value of the Company above $10.00 per Unit.

The sales period of this overnight offering will end at 9:00 a.m. (EST) on August 19, 2014.

A preliminary short form prospectus containing important information relating to the Priority Equity and Class A Shares has been filed with securities commissions or similar authorities in all provinces of Canada. The preliminary short form prospectus is still subject to completion or amendment. Copies of the preliminary short form prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the underwriters listed above. There will not be any sale or any acceptance of an offer to buy the Priority Equity and Class A Shares until a receipt for the final short form prospectus has been issued.