Our Toronto office advised Equitable Bank on a C$150m offering of deposit notes.
The notes bear interest at a fixed rate of 3.198 per cent per annum (paid semi-annually) until April 16, 2021.
CIBC World Markets and RBC Dominion Securities acted as joint lead dealers for the offering, with a syndicate that included BMO Nesbitt Burns, National Bank Financial, Scotia Capital and TD Securities.
The offering demonstrates strong support of Equitable Bank by the institutional investor community and represents the start of a more sustained issuance program.
The team was led by Heidi Reinhart, with assistance provided by Sam Zadeh.