By Sheri Kasprzak
New York, April 12 - The Royal Bank of Canada sold $1.75 billion of notes (Aa1/AA-/AA) in two tranches Tuesday, according to a term sheet.
RBC sold $900 million of three-year floating-rate notes at par to yield Libor plus 30 basis points. The notes are not callable.
The company sold $850 million of 2.875% five-year fixed-rate notes at 99.764 to yield 2.926%, or Treasuries plus 73 bps. The notes are also non-callable.
BNP Paribas, J.P. Morgan Securities LLC and RBC Capital Markets LLC are the joint bookrunners.
The proceeds will be used for general corporate purposes.
RBC is a Toronto-based investment bank.
| Issuer: | Royal Bank of Canada
|
| Issue: | Notes
|
| Amount: | $1.75 billion
|
| Bookrunners: | BNP Paribas, J.P. Morgan Securities LLC, RBC Capital Markets LLC
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| Fitch: AA
|
| Pricing date: | April 12
|
| Settlement date: | April 19
|
|
|
| Three-year notes
|
| Amount: | $900 million
|
| Maturity: | April 17, 2014
|
| Coupon: | Libor plus 30 bps
|
| Price: | Par
|
| Yield: | Libor plus 30 bps
|
| Call: | Non-callable
|
|
|
| Five-year notes
|
| Amount: | $850 million
|
| Maturity: | April 19, 2016
|
| Coupon: | 2.875%
|
| Price: | 99.764
|
| Yield: | 2.926%
|
| Spread: | Treasuries plus 73 bps
|
| Call: | Non-callable
|
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