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Scotiabank announced that the Bank priced CAD $750 million aggregate principal amount of 5NC4 Canadian Defence Notes (the "Bonds") on September 21, 2026, its first offering under Scotiabank's Canadian Defence Issuance Framework (the "Framework").
Scotiabank intends to allocate an amount equal to the net proceeds of the Bonds to finance and/or refinance eligible assets in accordance with the Framework, supporting Canada's defence, security and resilience priorities.
The Bonds represent the first defence-labelled issuance by any entity in the Canadian market.
"We are proud to launch the first transaction under Scotiabank's Defence Issuance Framework, providing investors with an opportunity to participate in a labelled bond supporting Canada's defence capabilities, industrial base and long-term economic resilience," said Paul Scurfield, Executive Vice President and Global Head, Capital Markets, Scotiabank.
The Framework is informed by Canadian and allied defence priorities, including Canada's Defence Industrial Strategy and its defence vision, Our North, Strong and Free, and sets out the eligible activities and reporting commitments applicable to Defence Instruments issued under the Framework.
Scotiabank's Canadian Defence Issuance Framework received an independent assessment from Sustainable Fitch, which found that the Framework is aligned with emerging defence financing market practices.
"This transaction represents an important milestone in the development of Scotiabank's funding programs and demonstrates the role capital markets can play in supporting Canada's evolving defence and security priorities," said Brandon Konigsberg, Executive Vice President and Group Treasurer, Scotiabank.
The Canadian Defence Issuance Framework and Sustainable Fitch's Defence Issuance Framework Assessment are available on Scotiabank's website at: https://www.scotiabank.com/ca/en/about/investors-shareholders/funding-programs/defence-issuances.html.
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SOURCE Scotiabank
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