Equitable bank successfully completes $150 million deposit note issue

On April 1, 2014, Equitable Bank announced the successful completion of a $150 million three-year fixed rate Deposit Note. The issuance was completed with RBC Capital Markets and CIBC World Markets acting as underwriter co-leads and bookrunners, supported by BMO Capital Markets, Scotiabank, and TD Securities as co-managers. This is the first issuance in what Equitable Bank expects to be an ongoing Deposit Note program. Equitable Bank is a federally regulated Schedule I Bank with total assets of approximately $12 billion, with 295 skilled employees and proven capabilities in lending and deposit-taking. Fasken Martineau advised the underwriters with a team that included Robert McDowell, Richard Steinberg, Sunny Sodhi and Susan Newell.