BNS hits hot sterling as Canadian banks ‘make hay’

By Tyler Davies
13 Jul 2017

Bank of Nova Scotia (BNS) has become the third Canadian bank to take advantage of strong conditions in the sterling market this week, tapping one of its existing deals for £150m ($194.07m).

Bookrunners Natwest, Nomura and Scotiabank started with price thoughts of Gilts plus 90bp area for BNS’s tap of its 1.25% 2022 bond on Wednesday morning, but they were able to fix a final spread at 90bp by afternoon time in London.

The outstanding bonds were quoted at 87bp ...

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