By Devika Patel
Knoxville, Tenn., April 18 – Bank of Nova Scotia offered further details about a $2 billion sale of three-year fixed- and floating-rate senior notes (A1/A+/AA-) that priced on Tuesday, according to an FWP filed with the Securities and Exchange Commission.
The company sold $700 million of floating-rate notes due April 20, 2021 at Libor plus 44 basis points.
It also priced $1.3 billion of 3.125% three-year fixed-rate notes at a spread of Treasuries plus 67 bps. These notes priced at 99.81 to yield 3.192%.
The bookrunners were Scotia Capital (USA) Inc., Goldman Sachs & Co., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, UBS Securities LLC, Barclays, J.P. Morgan Securities LLC, BofA Merrill Lynch and Wells Fargo Securities LLC.
Proceeds will be used for general business purposes.
The bank is based in Toronto.
| Issuer: | Bank of Nova Scotia
|
| Amount: | $2 billion
|
| Description: | Senior notes
|
| Bookrunners: | Scotia Capital (USA) Inc., Goldman Sachs & Co., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, UBS Securities LLC, Barclays, J.P. Morgan Securities LLC, BofA Merrill Lynch and Wells Fargo Securities LLC
|
| Call feature: | None
|
| Trade date: | April 17
|
| Settlement date: | April 20
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
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| Amount: | $700 million
|
| Description: | Floating-rate notes
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| Maturity: | April 20, 2021
|
| Coupon: | Libor plus 44 bps
|
|
|
| Three-year notes
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| Amount: | $1.3 billion
|
| Description: | Fixed-rate notes
|
| Maturity: | April 20, 2021
|
| Coupon: | 3.125%
|
| Price: | 99.81
|
| Yield: | 3.192%
|
| Spread: | Treasuries plus 67 bps
|
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