Royal Bank of Canada Closes $1.25 Billion SEC-Registered Offering of Senior Medium-Term Notes

January 31, 2017

S&C client Royal Bank of Canada (RBC) closed an SEC-registered offering of its senior medium-term notes, Series G, consisting of $1.25 billion aggregate principal amount of 2.750% senior notes due 2022 and $500 million aggregate principal amount of senior floating rate notes due 2022.

RBC was founded in 1864 and has been a chartered bank under Canada's Bank Act since 1869. With total assets of approximately C$1.2 trillion as of October 2016, RBC provides a broad range of retail banking, wealth management and investment banking products and solutions. RBC is the largest Canadian company by market capitalization, and serves over 16 million clients and has more than 80,000 employees worldwide.

S&C acted as U.S. counsel for RBC for the offering.

The S&C team consisted of Donald Crawshaw, Douglas Sarro, Arnaud Camu, Richard Le Page and Zachary Levine. Eric Wang, Saul Brander and Daniel Bleiberg advised on tax matters.