SG debt listings Friday: Bank of Nova Scotia’s US$60M notes

U.S. one-dollar currency notes; taken September 2018.U.S. one-dollar currency notes; taken September 2018.

These are entities which announced debt listing confirmations in Singapore on Friday, 7 January 2022: The Bank of Nova Scotia.

Bank of Nova Scotia

The Bank of Nova Scotia said Friday its US$60 million 1.85 percent bail-inable fixed-rate notes due 2027 (ISIN code: XS2429114825) would be listed on SGX’s bond market on Monday.

Bail-inable debt doesn’t qualify as common equity equity tier-one, additional tier-one or tier-two; it means the debt can be cancelled in a distressed situation.

The notes, which will trade in U.S. dollars, will be in denomination of US$1 million, with a minimum board lot size of US$200,000 with a minimum of five lots, the bank said in a filing to SGX.

The lead manager and bookrunner of the notes is The Bank of Nova Scotia’s Hong Kong branch, the filing said.

The Bank of Nova Scotia, which operates as Scotiabank, is one of Canada’s Big Five banks, offering personal, commercial, investment and private banking. Outside of Canada, the bank has operations in Latin America and Asia.

 

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