By William Gullotti and Cristal Cody
Buffalo, N.Y., Dec. 7 – Royal Bank of Canada sold $2 billion 4.851% three-year covered notes on Wednesday, according to a market source.
The bank priced the notes at SOFR mid-swaps plus 78 basis points, tight to initial talk in the SOFR mid-swaps plus 80 bps area.
RBC is acting as its own bookrunner along with BMO, HSBC and UBS.
The financial services company is based in Toronto.
| Issuer: | Royal Bank of Canada
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| Amount: | $2 billion
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| Issue: | Covered notes
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| Maturity: | Dec. 14, 2026
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| Bookrunners: | RBC, BMO, HSBC and UBS
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| Coupon: | 4.851%
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| Spread: | SOFR mid-swaps plus 78 bps, or Treasuries plus 53 bps
|
| Trade date: | Dec. 6
|
| Price talk: | SOFR mid-swaps plus 80 bps area
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