Scotiabank Issues US$1.75 Billion Covered Bonds Under Global Program

Bank Of Nova Scotia ( (TSE:BNS) ) just unveiled an announcement.

The Bank of Nova Scotia has agreed to issue U.S.$1.75 billion of 3.791% covered bonds due March 13, 2029, under its CAD100 billion Global Registered Covered Bond Program, with payments of interest and principal unconditionally and irrevocably guaranteed by Scotiabank Covered Bond Guarantor Limited Partnership. The final terms, dated March 11, 2026, support the bonds’ admission to trading under UK regulations and have been submitted to the National Storage Mechanism, underscoring Scotiabank’s ongoing use of covered bond markets to access long-term, secured funding.

This issuance reflects Scotiabank’s continued reliance on large-scale covered bond programs to diversify its funding base and lock in medium-term financing at defined coupon levels, which can enhance liquidity management and capital markets presence. The formal filing of final terms and alignment with UK regulatory requirements also help maintain investor transparency and marketability of the bonds to UK and European institutional investors, potentially broadening the bank’s investor base and reinforcing its profile in international debt markets.

More about Bank Of Nova Scotia

The Bank of Nova Scotia, operating as Scotiabank, is a major North American financial institution that offers a broad range of banking and financial services, including retail, commercial, corporate, and investment banking. Through its global funding programs, the bank regularly issues debt instruments and covered bonds to support its lending activities and balance sheet management across international markets.

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