VANCOUVER, British Columbia, Jan 7 (Reuters) - Bank of Nova Scotia on Wednesday became the latest of Canada's big banks to announce a preferred share offer to bolster its capital ratio.
Scotiabank's C$200 million ($168 million) offer is for 8 million noncumulative five-year rate-reset preferred shares at a price of $25 per share.
It comes a day after Royal Bank of Canada announced a C$200 million preferred share offering, and follows similar deals this week by Toronto-Dominion Bank and National Bank of Canada.
Scotiabank will sell the shares to an underwriting syndicate lead by Scotia Capital. The offer is expected to close on or after Jan. 21.
($1=$1.19 Canadian)
(Reporting Allan Dowd, Editing by Peter Galloway) Keywords: SCOTIABANK/ (allan.dowd@thomsonreuters.com; 1+604 664 7314; Messaging: allan.dowd.reuters.com@reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Scotiabank's C$200 million ($168 million) offer is for 8 million noncumulative five-year rate-reset preferred shares at a price of $25 per share.
It comes a day after Royal Bank of Canada announced a C$200 million preferred share offering, and follows similar deals this week by Toronto-Dominion Bank and National Bank of Canada.
Scotiabank will sell the shares to an underwriting syndicate lead by Scotia Capital. The offer is expected to close on or after Jan. 21.
($1=$1.19 Canadian)
(Reporting Allan Dowd, Editing by Peter Galloway) Keywords: SCOTIABANK/ (allan.dowd@thomsonreuters.com; 1+604 664 7314; Messaging: allan.dowd.reuters.com@reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.