National Bank of Canada Completes US$750 Million Fixed-to-Floating Rates Notes Offering
03.11.25
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The Firm represented National Bank of Canada Financial Inc., Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. as joint book-running managers, in connection with the 3(a)(2) exempt offering of US$750 million aggregate principal amount of 4.702% Fixed-to-Floating Rate Medium Term Notes by National Bank of Canada (“NBC”).
With $484 billion in assets as of January 31, 2025, NBC is one of Canada's six systemically important banks. NBC has approximately 30,000 employees in knowledge-intensive positions and operates through three business segments in Canada: Personal and Commercial Banking, Wealth Management and Financial Markets. A fourth segment, U.S. Specialty Finance and International, complements the growth of its domestic operations. Its securities are listed on the Toronto Stock Exchange.
The Simpson Thacher team included Lesley Peng, John Strubing and Leandra Kede Yomo (Capital Markets); Jonathan Cantor and Kris Liu (Tax); Pasco Struhs (Executive Compensation and Employee Benefits) and Jeanne Annarumma (ERISA).