Shearman & Sterling recently represented longstanding client The Bank of Nova Scotia in connection with its $1.25 billion Additional Tier 1 (AT1) bond offering, a deal that has just been named “North American Financial Bond Deal of the Year” at the 2017 International Financial Review (IFR) Awards. The groundbreaking offering, the first AT1 offering by a Canadian issuer, received the award for its unique structure, which opened up a path towards offshore U.S. dollar-denominated AT1s for Canadian financial institutions.
