By Cristal Cody
Prospect News, March 23 - The Royal Bank of Canada sold an upsized C$1.1 billion of 3.77% notes due March 30, 2018 at 99.988 to yield 3.772% on Wednesday, an informed source said.
The notes (Aaa/AAA//DBRS: AAA) priced at a spread of 87 basis points over the Canadian interpolated bond curve from initial guidance of 88 bps.
The deal was upsized from C$650 million.
The bonds were offered in Canada and in Europe on an unlisted private basis.
The bonds have a Canada call at 22 bps over the government benchmark.
RBC Capital Markets Corp. was the lead manager.
The financial services company is based in Toronto.
| Issuer: | Royal Bank of Canada
|
| Amount: | C$1.1 billion, increased from C$650 million
|
| Maturity: | March 30, 2018
|
| Securities: | Notes
|
| Bookrunner: | RBC Capital Markets Corp.
|
| Coupon: | 3.77%
|
| Price: | 99.988
|
| Yield: | 3.772%
|
| Spread: | 87 bps over Canadian interpolated bond curve
|
| Call feature: | 22 bps over Government of Canada benchmark
|
| Pricing date: | March 23
|
| Settlement date: | March 30
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| DBRS: AAA
|
| Distribution: | Canada, Europe
|
| Price talk: | 88 bps over Canadian interpolated bond curve
|
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