Transaction|March 21, 2022
Scotiabank issues C$1.75 billion NVCC subordinated debentures
Torys acted as counsel to the syndicate of agents led by Scotia Capital with a team that included David Seville, Michael Murphy and Alisse Elliott (corporate/securities) and Len Nesbitt (tax).
On March 21, 2022, The Bank of Nova Scotia (“Scotiabank”) completed a public offering of C$1.75 billion of 3.934% debentures (non-viability contingent capital (NVCC)) (subordinated indebtedness) due May 3, 2032.
The debentures were sold through an agency syndicate led by Scotia Capital Inc. pursuant to a prospectus supplement dated March 16, 2022 to Scotiabank's July 21, 2020 base shelf prospectus.
Further information can be found on Scotiabank's website.
Scotiabank is a leading bank in the Americas.