On September 24, 2024, Equitable Bank announced the successful completion of a $500 million fixed rate deposit note offering. The issuance was completed with BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., and TD Securities Inc. acting as joint leads and bookrunners, with National Bank Financial Inc. and Scotia Capital Inc. supporting as co-managers.
Deposit notes were issued in two tranches: a 2-year $200 million deposit note was offered at a 3.92% fixed rate and matures on September 24, 2026, and a 3.5-year $300 million deposit note was offered at a 3.99% fixed rate and matures on March 24, 2028.
Fasken advised the dealers with a team comprised of Richard J. Steinberg, Fatima Husnain, and Hannah Im (Articling Student).
Jurisdiction
- Ontario