The Firm represented National Bank of Canada Financial Inc., Citigroup Global Markets Inc., Barclays Capital Inc., Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC, as joint book-running managers, in connection with the 3(a)(2) exempt offering of US$1.25 billion aggregate principal amount of 4.166% Fixed-to-Floating Rate Medium-Term Notes and US$500 million aggregate principal amount of Floating Rate Medium-Term Notes by National Bank of Canada (“NBC”) pursuant to its US$10 billion Medium Term Note Program.
The Firm also represented National Bank Financial Inc., BNP PARIBAS, Barclays Bank PLC, Landesbank Baden-Württemberg, RBC Europe Limited and UBS AG London Branch, as joint book-running managers, in connection with the offering of €1 billion aggregate principal amount of 2.750% covered bonds due 2031 by NBC pursuant to its CAD$20 bilion Legislative Global Covered Bond Programme.
With $577 billion in assets as of October 31, 2025, NBC is one of Canada's six systemically important banks. NBC has approximately 35,000 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, Julie De Keukeleire, Sharon Foster (Capital Markets); Jonathan Cantor and Kris Liu (Tax); Spencer A. Sloan (Bank Regulatory); Pasco Struhs (Executive Compensation and Employee Benefits); and Jennie Getsin (FINRA).