Shearman & Sterling acted as special US counsel to The Bank of Nova Scotia in connection with its offering of US$2.5 billion aggregate principal amount of 1.450% Covered Bonds due 2013, issued under the Bank’s US$15 billion Global Public Sector Covered Bond Programme, with Banc of America Securities LLC, Barclays Capital Inc., HSBC Securities (USA) Inc. and Scotia Capital (USA) Inc. acting as lead managers.

The Bank of Nova Scotia is one of North America’s premier financial institutions and Canada’s most international bank, offering a broad range of products and services to almost 14.6 million customers in some 50 countries around the world.

The Shearman & Sterling team included partners Christopher Cummings (Toronto-Capital Markets), Laurence Crouch (Menlo Park-Tax) and Jeffrey Crandall (New York-Executive Compensation & Employee Benefits), counsel Patricia Kuhn (New York-Executive Compensation & Employee Benefits) and associates Kevin Roggow (Toronto-Capital Markets), Tina Li (Toronto-Capital Markets) and Eileen O’Pray(Menlo Park-Tax).