Equitable Bank Issues €500 Million Covered Bonds

TORONTO, Oct. 15, 2026 /CourierPR/ -- Equitable Bank, the seventh-largest Schedule I bank in Canada by assets, has successfully issued €500 million (CAD $797 million) of covered bonds, marking its seventh issuance under the CAD $3.0 billion Global Legislative Covered Bond Programme launched in 2021.

This latest offering includes €500 million 3.75% coupon covered bonds, priced to yield 3.789%, with a maturity date set for December 7, 2029. The bonds are rated Aa1 by Moody's and AA+ by Fitch. The issuance is significant as it supports the bank's diversified funding strategy, which is crucial for its growth plans and investment profile.

The issuance was completed with the support of a consortium of banks, including Barclays Bank, The Toronto-Dominion Bank, Commerzbank, DZ BANK, Erste Group Bank, Landesbank Baden-Württemberg, and the Bank of Nova Scotia. The bank noted that the issuance is subject to certain restrictions, applicable in the United Kingdom and the European Economic Area, aimed at ensuring compliance with financial regulations. Specifically, in the United Kingdom, this announcement is being distributed only to, and is directed only at, persons who: (A) (i) are "investment professionals" specified in Article 19(5) of the Financial Services and Markets Act (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order or (iii) are other persons to whom it may otherwise lawfully be communicated; and (B) are "qualified investors" within the meaning of paragraph 15 of Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024 (all such persons together being referred to as "Relevant Persons"). In the European Economic Area (the "EEA"), this announcement is addressed only to and directed only at, persons in member states who are "qualified investors" within the meaning of Article 2(e) of Regulation ((EU) 2017/1129 ("Qualified Investors"). This announcement must not be acted on or relied on (i) in the United Kingdom, by persons who are not Relevant Persons, and (ii) in any member state of the EEA, by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is available only to: (i) in the United Kingdom, Relevant Persons; and (ii) in any member state of the EEA, Qualified Investors, and will be engaged in only with such persons.

Equitable Bank, a leading Canadian financial services company with approximately $151 billion in combined assets under management and administration, continues to build on its mission to remake banking so every Canadian gets ahead, every day. Since 1970, the bank has served more than 4 million customers through its personal and commercial banking services, tailored lending, and connected payments. As the exclusive financial partner of Loblaw Companies Limited's PC Optimum™ loyalty program, one of Canada's largest loyalty programs with over 18 million members, Equitable Bank's financial solutions are deeply integrated into the daily lives of Canadians.

The bank's purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, it has built thoughtful financial solutions that serve more than 4 million customers, turning everyday moments into meaningful progress. Through its subsidiaries, Equitable Bank also offers home and auto insurance, estate and trust services, credit union solutions, and alternative asset management.