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The bank spelled out its intentions in a published framework for how it intends to use the proceeds, including how it will define an eligible defence company. Criteria include a Canadian stock listing or headquarters, plus clear evidence that a firm is a government security supplier or part of the supply chain for firms that are. (The Logic)
Talking point: Canadian lenders have historically shied away from backing defence companies; now, as the federal government pours money into buying gear and services, banks and other financiers are hurrying to figure out how to get into the sector intelligently. Standards are still forming and the framework is meant to bring “discipline and transparency to the capital we deploy,” Scotiabank executive vice-president Brandon Konigsberg said in a statement announcing the release.
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