Date Closed

April 23, 2024

Lead Office

Toronto

Value

500.00 Million EUR

On April 23, 2024, Equitable Bank ("EQB") issued the first-ever Social Covered bond issued by a Canadian Bank. The Euro (EUR) social covered bond issuance of Series CBL5 EUR 500,000,000 (CAD $735 million) at 3.500% is due May 28, 2027. The social covered bonds were issued under EQB’s CAD $3.0 billion global legislative covered bond program.

EQB provides diversified personal and commercial banking and through its EQ Bank platform. 

McCarthy Tétrault advised EQB with a team led by Marc MacMullin that included Candace Pallone (Financial Services), Tina Benson, Tamas Toezser, Jonathan Leung, Ann Zhang (Business), Jeff Oldewening, Len Nesbitt and Kathryn Walker (Tax).