Toronto-Dominion (TD) Bank has announced it will raise $250 million by issuing 7 million Class A preferred shares at $25 per share. TD needs to continue to raise cash with depleting reserves as a result of massive credit losses as a result of the global financial crisis. TD’s Tier 1 Capital ratio is also now down to 8.3%, the lowest in Canada. The Canadian Fed prohibits the ratio to fall below 7% Part of the plan, the underwriters can also exercise an option to buy 3 million more shares. TD plans to raise more than $2 billion starting in 2009. TD Q4 revenue was down 7% in Q4, while profits were down to $1.014 billion ($1.22 per share). Adjusted Q4 profit was down 35%