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Equitable Bank completes deposit note placement

Toronto-based Equitable Group Inc.'s wholly owned subsidiary Equitable Bank completed an institutional placement of a C$200 million 3-year fixed-rate deposit note due Sept. 26, 2022.

The note was priced 145 basis points over comparable term Government of Canada bonds.

BMO Nesbitt Burns Inc., CIBC World Markets Inc. and RBC Dominion Securities Inc. were joint leads and book runners, and National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc. were co-managers.