White & Case Advises Scotiabank Perú on US$400 Million Tier 2 Capital Notes Issuance

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  • White & Case advised Scotiabank Perú on a US$400 million Tier 2 capital notes issuance.
  • The five-year notes were issued under Rule 144A and Regulation S of the US Securities Act.
  • Scotiabank Perú plans to use the proceeds for general corporate purposes.
  • This is the first international notes offering by Scotiabank Perú since 2012.
  • The issuance reflects Scotiabank Perú’s strategy to strengthen its capital structure.

Scotiabank Perú Issues US$400 million in Capital Notes

In a significant development for Peru’s financial landscape, Scotiabank Perú has successfully issued US$400 million in Tier 2 capital notes, bolstered by the guidance of the global law firm White & Case LLP. The issuance of these notes, which are characterized as five-year non-callable subordinated capital instruments, reflects the bank’s strategic approach toward enhancing its capital structure. Drawing on the exceptional expertise of White & Case, this transaction underscores both the strength of Scotiabank Perú as a banking institution and its growing importance in the international financial markets.

Notes Issuance Highlights Legal Compliance and Strategic Goals

The capital notes were issued in compliance with Rule 144A and Regulation S of the US Securities Act of 1933, marking a significant regulatory step for the bank. With an interest rate set at 6.100%, the notes are set to mature in the year 2035, providing a long-term capital model for Scotiabank. Scotiabank Perú indicates that the proceeds from this issuance will be allocated for general corporate purposes, highlighting a pragmatic approach to financial management.

Strong Leadership and Expertise in the Capital Market

This transaction, which came to fruition on July 1, 2025, signifies Scotiabank Perú’s return to the international capital markets after a notable hiatus since 2012. Scotiabank Perú operates as a subsidiary of The Bank of Nova Scotia, providing diverse financial products and banking services to retail and commercial clients throughout the country. The legal expertise was spearheaded by partner John Vetterli, with support from counsel Henrikki Harsu in New York and associate Alonso Arellano Luna in Mexico City, all ensuring the transaction was smoothly orchestrated amidst complex regulatory frameworks.

In summary, under the expert guidance of White & Case LLP, Scotiabank Perú has successfully executed a US$400 million Tier 2 capital notes issuance, marking a pivotal moment for the bank’s operations in the international markets. The transaction not only demonstrates the bank’s solid financial standing but also its strategic resource management, with the additional benefit of bringing bank operations back onto the global stage after 2012. Looking ahead, Scotiabank Perú aims to utilize the proceeds for general corporate needs, enhancing both its investment potential and service offerings in Peru’s financial landscape.

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