BNS has announced:
that it has completed the domestic offering of 12 million, non-cumulative 5-year rate reset preferred shares Series 18 (the “Preferred Shares Series 18”) at a price of $25.00 per share on March 25, 2008.
The syndicate of investment dealers led by Scotia Capital Inc. have also fully exercised the over-allotment option to purchase an additional 1.8 million of Preferred Shares Series 18 at a price of $25.00 per share. It is expected that the closing for the additional 1.8 million shares will occur on March 27, 2008. After the closing of the additional shares, when combined with the existing 12 million shares, there will be a total of 13.8 million of the Preferred Shares Series 18 trading on the Toronto Stock Exchange under the symbol BNS.PR.P. The gross proceeds of the offering were $345 million.