TD Bank is providing $3.8 billion in financing for the takeover of BCE by a group including the Ontario Teachers’ Pension Plan.
The bank has underwritten $3.3 billion of a $34.3 billion credit facility and will acquire a minority stake in the telecom company for $500 million.
“While these commitments are large,” TD says in a statement, “they were entered into following the bank’s normal processes and are within the risk tolerances provided for in the bank’s risk management framework.”
The bank expects to syndicate these commitments among other financial institutions and investors.
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