National Bank Completes Public Offering of First Preferred Shares

National Bank of Canada (the Bank) completed a public offering in Canada of $350 million Basel III-compliant Non-cumulative Five-Year Rate Reset First Preferred Shares Series 30. The net proceeds of the offering qualify as Tier 1 capital for the Bank.

The Bank was represented in-house by Dominic Paradis, Senior Manager, Legal Affairs (litigation) and Corporate Treasury; and Mélanie Viguié-Bilodeau, Senior Legal Advisor, Legal Affairs (Litigation), and Corporate Treasury; and was assisted by McCarthy Tétrault LLP with a team including Frédéric Cotnoir, Barry Ryan and Eleonore Derome (corporate and securities); and Christian Meighen and Angelo Discepola (tax).

The syndicate of underwriters – led by National Bank Financial Inc. and included RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., GMP Securities L.P., Laurentian Bank Securities Inc., Dundee Securities Ltd., Industrial Alliance Securities Inc., Manulife Securities Incorporated, and Raymond James Ltd. – was represented by Torys LLP with a team including David Seville, Blair Keefe and Anthony Tam (corporate and securities); Jerald Wortsman and Andrew Wong (tax).