RBC offers $1.1 billion additional Tier 1 limited recourse capital notes
RY•RBC launches $1.1 billion AT1 notes offering
RBC launched a USD 1.1 billion offering of NVCC AT1 Limited Recourse Capital Notes, Series 9.
- The notes pay 6.275% annually to Nov. 24, 2031, then reset every five years at the 5-year Canada yield + 2.7%.
- Maturity is set for Nov. 24, 2086, with an expected closing date of Sept. 29, 2026.
- Recourse is limited to trust assets backed by NVCC Non-Cumulative 5-Year Fixed Rate Reset First Preferred Shares, Series CB.
- Proceeds are earmarked for general business purposes.
