The Firm represented National Bank of Canada Financial Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and UBS Securities LLC, as joint book-running managers, in connection with the 3(a)(2) exempt offering of US$1 billion aggregate principal amount of 4.928% Fixed-to-Floating Rate Medium-Term Notes by National Bank of Canada (“NBC”) pursuant to its US$10 billion Medium Term Note Program.
With $618 billion in assets as of April 30, 2026, 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 Capital 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, Rebecca Carroll and Yuki Zhang (Capital Markets); Jonathan Cantor (Tax); Spencer A. Sloan (Bank Regulatory); Pasco Struhs (Executive Compensation and Employee Benefits); and Jennie Getsin (FINRA).