The Bank of Nova Scotia $300 Million Subordinated Debenture Offering

On January 31, 2008, The Bank of Nova Scotia raised $300 million in subordinated debt. The Debentures were placed by a syndicate of agents led by Scotia Capital Inc. and included TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., HSBC Securities (Canada) Inc., National Bank Financial Inc., Merrill Lynch Canada Inc., Desjardins Securities Inc., J.P. Morgan Securities Canada Inc. and Laurentian Bank Securities Inc.

McCarthy Tétrault LLP acted for the Bank under the direction of Executive Vice President and General Counsel Deborah Alexander, and Senior Legal Counsel Catherine Waugh, with a team including Barry Ryan, Tara Rosenblatt and Angie Foggia (business law) and Gabrielle Richards (tax). Scotia Capital Inc. and the syndicate of agents were advised by Steven Smith, Kashif Zaman, Rachel Halperin (corporate), and Andrew McGuffin (tax) of Osler, Hoskin & Harcourt LLP.