Transaction|January 22, 2016
National Bank of Canada completes C$400 million NVCC preferred share offering
Torys acted as counsel to the syndicate of underwriters led by National Bank Financial with a team that included David Seville, Leah Frank and Laura Sigurdson.
On January 22, 2016, National Bank of Canada (National Bank) announced that it closed its domestic public offering of non-cumulative 5-year rate reset first preferred shares series 34 (non-viability contingent capital (NVCC)) at a price of C$25.00 per share, to raise gross proceeds of C$400 million.
The offering was underwritten by a syndicate led by National Bank Financial Inc. and issued under a prospectus supplement dated January 15, 2016 to National Bank's short form base shelf prospectus dated December 1, 2014.
National Bank, together with its subsidiaries, forms one of Canada's leading integrated financial groups, with C$216 billion in assets as at October 31, 2015.
Further information can be found on National Bank's website.