Scotiabank Peru is counseled by our law firm on the release of US$400 million in Tier 2 capital notes.
Scotiabank Peru, a leading financial institution in Peru and a subsidiary of The Bank of Nova Scotia, has successfully issued $400 million in Tier 2 subordinated capital notes in an international offering that closed on July 1, 2025. This marks the bank's first international notes offering since 2012.
The five-year non-callable notes bear an interest rate of 6.100% and mature in 2035. The issuance was conducted under Rule 144A and Regulation S of the US Securities Act of 1933. Scotiabank Peru intends to use the proceeds from this issuance for general corporate purposes.
Global law firm White & Case LLP served as legal advisor to Scotiabank Peru on this transaction. The White & Case Capital Markets team was led by partner John Vetterli, with counsel Henrikki Harsu (both based in New York) and associate Alonso Arellano Luna (based in Mexico City) also playing key roles in advising the client throughout the deal.
Henrikki Harsu is counsel in the Capital Markets team at White & Case LLP, with a focus on Financial Institutions, and is based in New York. John Vetterli is a partner in the Capital Markets team, specializing in Latin America, Energy, and Financial Institutions, with a focus on Mergers & Acquisitions. Carlos Alonso Arellano is an associate in the Financial Institutions practice at White & Case LLP, and is based in Mexico City.
The White & Case Capital Markets team has members based in key financial hubs such as New York, Mexico City, and other locations in North America and Latin America. The team's expertise extends to various service areas, including but not limited to, Capital Markets, Financial Institutions, Mergers & Acquisitions, and Energy.
This strategic capital raise by Scotiabank Peru represents a significant milestone in their collaboration with White & Case Capital Markets team. The transaction marks a crucial step for the bank in strengthening its capital base and expanding its reach in the international markets.
[1] Information sourced from official press release provided by White & Case LLP. No specific press contact information was provided in the article.
- Scotiabank Peru, a corporate client, used the services of White & Case LLP, an international law firm, for advice on their Tier 2 subordinated capital notes offering.
- John Vetterli, a partner in White & Case LLP's Capital Markets team, led the team that counseled Scotiabank Peru on this transaction.
- Henrikki Harsu, a counsel in White & Case LLP's Capital Markets team with a focus on Financial Institutions, also played a key role in advising Scotiabank Peru.
- Carlos Alonso Arellano, an associate in White & Case LLP's Financial Institutions practice, based in Mexico City, was also involved in advising Scotiabank Peru.
- The White & Case Capital Markets team has members based in key financial hubs such as New York, Mexico City, and other locations in North America and Latin America.
- The team's expertise extends to various service areas, including but not limited to, Capital Markets, Financial Institutions, Mergers & Acquisitions, and Energy.
- This strategic capital raise by Scotiabank Peru represents a significant milestone in their collaboration with White & Case Capital Markets team.
- The transaction marks a crucial step for the bank in strengthening its capital base and expanding its reach in the international markets.
