Transaction|July 23, 2026
Scotiabank issues C$1.25 billion NVCC subordinated debentures
Torys acted as counsel to the syndicate of agents led by Scotia Capital Inc. with a team that included David Seville, Michael Murphy and Andrea Das-Wieczorek (corporate/securities) and Jerald Wortsman and Stan Fedun (tax).
On July 23, 2026, The Bank of Nova Scotia (“Scotiabank”) completed a public offering of C$1.25 billion of 4.223% fixed/floating rate subordinated debentures (non-viability contingent capital (NVCC)) (subordinated indebtedness) due August 1, 2036.
The debentures were issued in Canada and sold through a syndicate of agents led by Scotia Capital Inc., pursuant to a prospectus supplement dated July 20, 2023 to Scotiabank's September 3, 2024 base shelf prospectus.
Scotiabank is a leading bank in the Americas. It provides a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.