Bank of Nova Scotia issues S$300m covered bonds due 2029

Bank of Nova Scotia has issued SGD 300,000,000 in covered bonds, set to mature on September 14, 2029, according to a press release. The bonds, bearing a 2.175% interest rate, were announced on September 10, 2024, under the bank's Global Registered Covered Bond Program, valued at CAD 100,000,000,000. These Series CBL75 bonds are guaranteed by Scotiabank Covered Bond Guarantor Limited Partnership for the payment of interest and principal.

A pricing supplement, published on the same day, is essential for understanding the bonds' trading admission and must be read alongside the prospectus dated August 5, 2026. The National Storage Mechanism has received the supplement, which is accessible for inspection via the Financial Conduct Authority's database. These offshore bonds, restricted to non-US persons under Regulation S of the US Securities Act of 1933, are not registered under the US Securities Act or state securities laws.

The targeted market for these bonds, governed by UK MiFIR product governance, is limited to eligible counterparties and professional clients across all distribution channels, barring retail investors in the European Economic Area or the United Kingdom. This report was AI-assisted and reviewed by an editor.