By Cristal Cody
Tupelo, Miss., July 11 – Bank of Nova Scotia (A1/A+/AA-) sold $1.5 billion of senior notes in two parts on Tuesday, according to a market source and an FWP filing with the Securities and Exchange Commission.
Scotiabank placed $400 million of three-year floating-rate notes at par to yield Libor plus 39 basis points.
The bank priced $1.1 billion of 2.15% three-year fixed-rate notes at 99.986 to yield 2.155% and a spread of Treasuries plus 60 bps.
Scotia Capital (USA) Inc., BofA Merrill Lynch, HSBC Securities (USA) Inc. J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, UBS Securities LLC and Barclays were the bookrunners.
Proceeds will be used by the Toronto-based bank for general business purposes.
| Issuer: | Bank of Nova Scotia
|
| Amount: | $1.5 billion
|
| Description: | Senior notes
|
| Bookrunners: | Scotia Capital (USA) Inc., BofA Merrill Lynch, HSBC Securities (USA) Inc. J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, UBS Securities LLC and Barclays
|
| Trade date: | July 11
|
| Settlement date: | July 14
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $400 million
|
| Maturity: | July 14, 2020
|
| Coupon: | Libor plus 39 bps
|
| Price: | Par
|
| Yield: | Libor plus 39 bps
|
| Call feature: | Non-callable
|
|
|
| Three-year notes
|
| Amount: | $1.1 billion
|
| Maturity: | July 14, 2020
|
| Coupon: | 2.15%
|
| Price: | 99.986
|
| Yield: | 2.155%
|
| Spread: | Treasuries plus 60 bps
|
| Call feature: | Non-callable
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
