[Federal Register Volume 61, Number 24 (Monday, February 5, 1996)]
[Notices]
[Pages 4299-4300]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-2332]



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SMALL BUSINESS ADMINISTRATION
[Application No. 99000194]


Toronto Dominion Capital (U.S.A.), Inc.; Notice of Filing of 
Application for a License to Operate as a Small Business Investment 
Company

    Notice is hereby given of the filing of an application with the 
Small Business Administration (SBA) pursuant to Section 107.102 of the 
Regulations governing small business investment companies (13 CFR 
107.102 (1995)) by Toronto Dominion Capital (U.S.A.), Inc., 31 West 
52nd Street, 20th Floor, New York, New York, 10019 for a license to 
operate as a small business investment company (SBIC) under the Small 
Business Investment Act of 1958, as amended, (15 U.S.C. et. Seq.), and 
the Rules and Regulations promulgated 

[[Page 4300]]
there under. Toronto Dominion Capital (U.S.A.), Inc., is a Delaware 
corporation. The applicant is based in New York, New York, and intends 
to make investments in small business concerns throughout the United 
States.
    The applicant's only stockholder is Toronto Dominion Holdings 
(U.S.A.), Inc., a Delaware corporation and a 100% owned subsidiary of 
The Toronto-Dominion Bank, a publicly held Canadian financial 
institution. There is only one class of Common Stock. All shares of 
Common Stock are entitled to an equal portion of any dividends on the 
Common Stock which may from time to time be declared by the Board of 
Directors out of assets legally available. The Board of Directors has 
not adopted a dividend policy. The Common Stock is not subject to any 
provisions respecting conversion, redemption or assessment. The 
responsible managers of the applicant are Brian A. Rich, President; 
Stephen A. Reinstadtler, Vice President--Investment; and Eric D. 
Rindahl, Assistant Vice President--Investment. Mr. Rich is a recognized 
leader in media and communications financings and is a regular speaker 
at industry conferences. Mr. Reinstadtler specializes in health care 
and manufacturing financings. Mr. Rindahl has specialized in a number 
of transactions within the media and communications industries 
providing advisory services and tax analysis on various transactions.
    The initial capitalization of $5,000,000 has been provided by 
Toronto Dominion Holdings (U.S.A.), Inc., a Delaware corporation and 
the applicant's parent. The applicant will operate without SBA 
leverage. The following shareholders will own 10 percent or more of the 
proposed SBIC:

------------------------------------------------------------------------
                                                              Percentage
                            Name                                  of    
                                                              ownership 
------------------------------------------------------------------------
Toronto Dominion Holdings (U.S.A.), Inc., 31 West 52nd                  
 Street, 20th Floor, New York, New York 10019..............          100
------------------------------------------------------------------------

    The applicant intends to invest in small business concerns which 
have a capacity for significant growth. Although the applicant will 
focus on growth equity investments, its portfolio companies will not 
necessarily be in so-called ``high technology'' industries. Because the 
applicant's managers have extensive experience in raising and providing 
capital to companies in the media and communications industries, a 
large percent of the applicant's initial investments may be 
concentrated in these industries. The applicant, however, also intends 
to focus on small business concerns in other industries.
    Matters involved in SBA's consideration of the application include 
the general business reputation and character of the proposed owners 
and management, and the probability of successful operations of the new 
company under their management, including profitability and financial 
soundness in accordance with the Act and Regulations.
    Notice is hereby given that any person may, not later that 15 days 
from the date of publication of this Notice, submit written comments on 
the proposed SBIC to the Associate Administrator for Investment, Small 
Business Administration, 409 Third Street, SW., Washington, DC 20416.
    A copy of this Notice will be published in a newspaper of general 
circulation in New York, New York.

(Catalog of Federal Domestic Assistance Programs No. 59.011, Small 
Business Investment Companies)

    Dated: January 29, 1996.
Don A. Christensen,
Associate Administrator for Investment.
[FR Doc. 96-2332 Filed 2-2-96; 8:45 am]
BILLING CODE 8025-01-P