National Bank of Canada Completes Public Offering of $145M of Shares

On January 30, 2009, National Bank of Canada completed a public offering in Canada of $145 million of Non-cumulative 5-Year Rate Reset First Preferred Shares Series 26. The net proceeds of the offering qualify as Tier 1 capital for the bank.

The bank was represented in-house by Dominic Paradis, senior manager/securities & subsidiaries/legal affairs and Mélanie Viguié-Bilodeau, legal counsel/securities & subsidiaries/legal affairs, and assisted by McCarthy Tétrault LLP with a team that included Frédéric Cotnoir, Eleonore Derome (corporate and securities); Marc Darmo, Marc-André Godard and Khashayar Haghgouyan (tax) and Laurent Gauthier (corporate).

The syndicate of underwriters, led by National Bank Financial Inc. and including RBC Dominion Securities Inc., CIBC World Markets Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Desjardins Securities Inc., HSBC Securities (Canada) Inc., Laurentian Bank Securities Inc., Wellington West Capital Markets Inc., Blackmont Capital Inc., Brookfield Financial Corp., Dundee Securities Corporation and Raymond James Ltd., was represented by Ogilvy Renault LLP with a team that included Jean Daigle (corporate and securities); Jules Charette (tax) and Marie-Claude Mailloux (corporate).