21:28:41 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,204,829,080
Close 2016-09-07 C$ 70.70
Market Cap C$ 85,181,415,956
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Scotiabank increases Series 38 offering to $500-million

2016-09-07 14:27 ET - News Release

Mr. Jake Lawrence reports

SCOTIABANK ANNOUNCES INCREASE TO NVCC PREFERRED SHARES OFFERING

Bank of Nova Scotia, as a result of strong investor demand for its previously announced domestic public offering of non-cumulative five-year rate-reset preferred shares Series 38 (non-viability contingent capital (NVCC)), has increased the size of the offering to 20 million shares. The gross proceeds of the offering will now be $500-million. The offering will be underwritten by a syndicate of investment dealers led by Scotia Capital Inc.

Closing is expected to occur on or after Sept. 16, 2016. This domestic public offering is part of Scotiabank's continuing and pro-active management of its Tier 1 capital structure. Scotiabank intends to file a prospectus supplement to its July 7, 2016, base shelf prospectus in respect of this issue.

Net proceeds from this transaction will be added to Scotiabank's funds and will be used for general business purposes.

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