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Scotiabank issues its first Green Bond in the European market for EUR 1 billion
Scotiabank issues its first Green Bond in the European market for EUR 1 billion Canada ...
About this update from Bank Of Nova Scotia
[{"type":"text","content":"\n \n \n \n Scotiabank issues its first Green Bond in the European market for EUR 1 billion\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n April 17, 2024\n \n \n /CNW/ - Scotiabank has issued its inaugural\n \n EUR 1 billion\n \n , 5-year senior fixed rate Green Bond (the \"EUR Green Bond\") in the European market pursuant to Scotiabank's\n \n Sustainable Issuance Framework\n \n released on\n \n April 5\n \n , 2024  (the \"Framework\"). Scotiabank intends to allocate, in accordance with the Framework, an amount equal to the net proceeds from the EUR Green Bond offering to finance and/or refinance, in part or in full, new, or existing Eligible Green Assets (as defined in the Framework).\n \n \n \n \n \n \n \n \n \n The EUR Green Bond represents the largest green or sustainability bond offering by a Canadian financial or corporate to date. This offering is aligned with Scotiabank's view that financial institutions can play an important role in providing financial products and services that aim to incentivize innovation in a world increasingly affected by climate change.\n \n \n \"This is Scotiabank's fourth green or sustainability labeled benchmark bond, and our first in\n \n Europe\n \n ,\" said Paul Scurfield, Global Head, Capital Markets, Global Banking and Markets at Scotiabank. \"We believe it represents a step forward for our sustainable finance program and we are proud to demonstrate Scotiabank's ongoing interest to play a leading role in sustainable finance across our global markets.\"\n \n \n The bond was issued under the Framework, which replaces the Bank's Sustainable Bond Framework released in 2021. Updates to the Framework include the expansion of instruments that can be issued to raise sustainable financing, and additional Eligible Green and Social categories (each as defined in the Framework) to which such financing can be allocated, including: Nuclear Energy, Circular Economy, Climate Adaptation and Food Security & Sustainable Food Systems. The Framework received a\n \n...