Scotiabank Perú Secures $400 Million in Tier 2 Notes
Deal News | Jul 03, 2025 | White & Case LLP
Global law firm White & Case LLP recently advised Scotiabank Perú on its significant issuance of $400 million Tier 2 capital notes. These five-year non-callable subordinated notes were issued internationally following Rule 144A and Regulation S of the US Securities Act of 1933. They come with a 6.100% interest rate and maturity in 2035. Scotiabank Perú, a subsidiary of The Bank of Nova Scotia and a key player in Peru's banking sector, intends to utilize the funds for general corporate purposes. This issuance is notably Scotiabank Perú's first foray into the international notes market since 2012. White & Case's involvement was led by partner John Vetterli with team members based in New York and Mexico City.
Sectors
- Banking and Financial Services
- Legal Services
Geography
- Peru – Scotiabank Perú is based in Peru and is a major player in the country's financial industry.
- United States – The issuance of notes was carried out under the US Securities Act regulations, involving legal and financial structures common in the US.
Industry
- Banking and Financial Services – The article involves Scotiabank Perú, a major banking institution engaged in issuing capital notes.
- Legal Services – White & Case LLP is providing legal advisement services for the issuance of the capital notes.
Financials
- US$400 million – The total value of the Tier 2 capital notes issued by Scotiabank Perú.
- 6.100% – The interest rate of the Tier 2 capital notes.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Scotiabank Perú | Target Company | Company | A leading banking institution in Peru and a subsidiary of The Bank of Nova Scotia. |
| White & Case LLP | Legal Advisor | Company | A global law firm that advised Scotiabank Perú on the notes issuance. |
| The Bank of Nova Scotia | Parent Company | Company | The parent company of Scotiabank Perú. |