White & Case advises Scotiabank Perú on its US$400 million Tier 2 capital notes issuance

Global law firm White & Case LLP has advised Scotiabank Perú, a leading banking institution in Peru, on the issuance of US$400 million of its Tier 2 capital notes.

The five-year non-callable subordinated Tier 2 capital notes were issued in the international markets under Rule 144A and Regulation S of the US Securities Act of 1933. The notes bear interest at 6.100% and mature in 2035.

Scotiabank Perú expects to use the proceeds of the issuance for general corporate purposes. The transaction, which closed on July 1, 2025, marks the first international notes offering by Scotiabank Perú since 2012.

Scotiabank Perú is a subsidiary of The Bank of Nova Scotia and one of the leading providers of financial products and banking services for retail customers and commercial clients in Peru, with a prominent presence in all major business segments.

The White & Case Capital Markets team was led by partner John Vetterli, and included counsel Henrikki Harsu (both in New York) and associate Alonso Arellano Luna (Mexico City).

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