Royal Bank of Canada Closes $3 Billion SEC-Registered Notes Offering

April 30, 2018

S&C client Royal Bank of Canada (RBC) closed  SEC-registered offerings of its senior medium-term notes, Series G, consisting of $1.5 billion aggregate principal amount of 3.200% senior notes due 2021 and $1.5 billion aggregate principal amount of senior floating rate notes due 2021.

RBC was founded in 1864 and has been a chartered bank under Canada’s Bank Act since 1869. With total assets of approximately C$1.3 trillion as of January, 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 more than 16 million clients and has more than 81,000 employees worldwide.

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

The S&C team was led by Donald Crawshaw, along with Daniel Lorme, Zachary Levine and Misha Patel. Jeffrey Hochberg and Michael Hogan advised on tax matters.