National Bank Closes $750M NVCC Preferred Share Offering

National Bank of Canada has closed its previously announced $750M offering of Non-Cumulative 5-Year Fixed Rate Reset First Preferred Shares, Series 52 (NVCC).

The move adds regulatory capital, which will support lending and buffers under OSFI rules. The NVCC prefs have a 25-year fixed reset term, reducing duration risk and impacting funding cost path.

This is considered a mid-cycle funding action typical for Canadian banks to optimize capital under NVCC rules.