TORONTO - The Bank of Nova Scotia (NYSE:BNS) has announced the approval of a prospectus for a substantial CAD100 billion Global Registered Covered Bond Program. This financial move, sanctioned by the Financial Conduct Authority (FCA), is guaranteed by Scotiabank (TSX:BNS) Covered Bond Guarantor Limited Partnership, ensuring payments of interest and principal.
The prospectus, dated today, outlines the terms of the bond program and has been made publicly available through the National Storage Mechanism. Interested parties can review the document by visiting the FCA’s official website.
This bond program is not available in the United States, nor is it targeted at U.S. residents. The securities mentioned in the prospectus have not been registered under the United States Securities Act of 1933 and will not be offered in the U.S. or to U.S. persons, except under specific exemptions. The Bank of Nova Scotia has made it clear that the bonds will be offered to non-U.S. persons in offshore transactions and to qualified institutional buyers in line with Rule 144A under the Securities Act.
The prospectus and the documents incorporated by reference, which include the Bank of Nova Scotia's Annual Information Form and Annual Report for 2024, as well as several past prospectuses, provide detailed information about the bond program and the financial health of the bank.
Investors interested in the details of the Global Registered Covered Bond Program can access the prospectus and the incorporated documents through the links provided in the press release. The Bank of Nova Scotia emphasizes that the information contained within these documents is directed only at eligible parties as specified, and it is the responsibility of the interested parties to ensure they meet these criteria before proceeding.
The announcement of this bond program comes as part of the bank's broader strategy to secure long-term funding and demonstrates its ongoing efforts to maintain a robust financial footing. The information herein is based on a press release statement from the Bank of Nova Scotia.
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