BNS follows results with sterling TLAC debut

By Tyler Davies
27 Nov 2019

Bank of Nova Scotia returned to the sterling market for the first time in more than a year on Wednesday, when it sold its first total loss-absorbing capacity (TLAC) compliant senior bonds in the currency a day after reporting its full year results.

The Canadian bank hired HSBC, Lloyds, RBC Capital Markets and Scotiabank to arrange the sale of a four year senior bond.

The syndicate group opened the pricing in the 100bp-105bp over Gilts and was able to clock up about £450m of orders within an hour ...

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