Trillium Credit Card Trust II Announces it has Applied to Cease to be a Reporting Issuer in Canada

TORONTO, July 27, 2018 /CNW/ - Trillium Credit Card Trust II (the "Trust") announced today that it has applied to the Ontario Securities Commission (the "OSC"), as principal regulator, for a decision that it has ceased to be a reporting issuer in all jurisdictions of Canada. 

As of today's date, the Trust has one series of debt securities ("Notes") outstanding, being U.S.$600,000,000 credit card receivables backed Class A floating rate notes, series 2018-1 (the "Class A Notes") and CDN$67,300,000 3.875% credit card receivables backed Class B notes, series 2018-1 (the "Class B Notes"), each with an expected principal payment date of February 26, 2020.  All of the Class A Notes were offered on a private placement basis to eligible investors in the United States, and the Class B Notes are held by The Bank of Nova Scotia, the sponsor of the Trust. The Trust has never issued Notes publicly in Canada.

If the requested decision is granted by the OSC, and the conditions in Multilateral Instrument 11-102 – Passport System have been satisfied, the Trust will cease to be a reporting issuer in Ontario and will be deemed to cease to be a reporting issuer in all other jurisdictions of Canada in which it is a reporting issuer (British Columbia, Alberta, Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, the Northwest Territories, Nunavut and Yukon Territory) and, as a result, will no longer be required to file financial statements and other continuous disclosure documents with any Canadian securities regulatory authority.

SOURCE Scotiabank

Christy Bunker, Managing Director, Alternate Funding, [phone], [email protected]

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