Royal Bank of Canada Closes $300M Offering of NVCC Preferred Shares

March 13, 2015

Client: Royal Bank of Canada

On March 13, 2015, Royal Bank of Canada (TSX: RY; NYSE: RY) completed a public offering of 12,000,000 non-cumulative 5-year rate reset preferred shares (non-viable contingent capital (NVCC))  at a price of $25 per share for total proceeds of C$300M.

RBC Dominion Securities Inc. acted as lead dealer for the offering with a syndicate that included Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Desjardins Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Laurentian Bank Securities Inc., Manulife Securities Incorporated, Dundee Securities Ltd., HSBC Securities (Canada) Inc. and Raymond James Ltd.

Royal Bank of Canada was represented internally by Erin Dion and Javier Gonzalez, and by Heidi Reinhart and Todd Melchior (Securities) of Norton Rose Fulbright Canada LLP with a team that included Adrienne Oliver and Michael Wong (Tax).