By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., Dec. 6 – Royal Bank of Canada sold $1.25 billion 4.784% three-year covered notes on Monday, according to a market source.
The bank priced the Rule 144A and Regulation S notes at SOFR mid-swaps plus 85 basis points. Talk was also in the SOFR mid-swaps plus 85 bps area.
Barclays, Lloyds and RBC were the bookrunners.
The financial services company is based in Toronto.
| Issuer: | Royal Bank of Canada
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| Amount: | $1.25 billion
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| Issue: | Covered notes
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| Maturity: | Dec. 12, 2025
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| Bookrunners: | Barclays, Lloyds and RBC
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| Coupon: | 4.784%
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| Spread: | SOFR mid-swaps plus 85 bps
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| Pricing date: | Dec. 5
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| Distribution: | Rule 144A and Regulation S
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| Price talk: | SOFR mid-swaps plus 85 bps area
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