Scotiabank files to raise up to $7 bln in shares, debt

Wed Nov 12, 2014 6:32am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

Nov 12 (Reuters) - Bank of Nova Scotia filed with U.S. regulators to offer, from time to time, common shares, preferred shares and debt worth up to $7 billion.

Scotiabank, Canada's No. 3 lender, said in a filing with the U.S. Securities and Exchange Commission that proceeds from the offering would be used for general banking purposes.

The bank said earlier this month it was cutting about 1,500 jobs, mainly due to branch closures and changes in its leadership structure, and would take a pre-tax charge that would reduce fourth-quarter earnings by about 28 Canadian cents per share.

The amount of money a company says it plans to raise in its shelf offering is used to calculate registration fees. The final amount to be raised could be different. (Reporting by Sayantani Ghosh in Bangalore; Editing by Maju Samuel)