The Bank of Nova Scotia

The Bank of Nova Scotia in its launch of a new form of Additional Tier 1 Capital

Client

The Bank of Nova Scotia

Value

US$1.25 billion

Service

Corporate Finance and Securities

Date Closed

October 2017

Lead Office

Toronto


On October 12, 2017, The Bank of Nova Scotia ("BNS") completed an offering of 4.650% fixed to floating rate non-cumulative subordinated additional Tier 1 Capital Notes for US$1.25 billion.

This offering represented the first issuance of this new form of Additional Tier 1 Capital, which expands the scope of available investor markets to Canadian banks. The notes build on the technology pioneered by Osler in the offering of Emera hybrid notes, completed last year.

Osler, Hoskin & Harcourt LLP represented BNS with a team consisting of Timothy Hughes (Taxation) and Kashif Zaman (Financial Services).


 

Team
Timothy  Hughes

Timothy Hughes

Partner, Taxation

Kashif  Zaman

Kashif Zaman

Partner, Financial Services