By Devika Patel and Cristal Cody
Knoxville, Tenn., July 27 – Royal Bank of Canada priced $1.5 billion of senior notes in two tranches on Monday, according to a market source.
The issuer sold $650 million of three-year floating-rate notes at SOFR plus 36 basis points at par. These notes were talked at SOFR plus a spread.
The bank also priced $850 million of 0.65% three-year notes at a spread of 30 bps over Treasuries. The notes were sold at 99.935 to yield 0.672%.
The fixed-rate tranche was guided in the Treasuries plus 45 bps area.
RBC Capital Markets LLC, BofA Securities Inc., Wells Fargo Securities LLC and ANZ Securities Inc. were the bookrunners.
Royal Bank of Canada is a Toronto-based financial services company.
| Issuer: | Royal Bank of Canada
|
| Amount: | $1.5 billion
|
| Description: | Senior notes
|
| Bookrunners: | RBC Capital Markets LLC, BofA Securities Inc., Wells Fargo Securities LLC and ANZ Securities Inc.
|
| Trade date: | July 26
|
|
|
| Three-year floaters
|
| Amount: | $650 million
|
| Description: | Floating-rate notes
|
| Maturity: | July 29, 2024
|
| Coupon: | SOFR plus 36 bps
|
| Price: | Par
|
| Yield: | SOFR plus 36 bps
|
| Guidance: | SOFR plus a spread
|
|
|
| Three-year notes
|
| Amount: | $850 million
|
| Description: | Fixed-rate notes
|
| Maturity: | July 29, 2024
|
| Coupon: | 0.65%
|
| Price: | 99.935
|
| Yield: | 0.672%
|
| Spread: | Treasuries plus 30 bps
|
| Price guidance: | Treasuries plus 45 bps area
|
|
|
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