RBC opens door for Canadian covereds

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RBC opens door for Canadian covereds

RBC

Royal Bank of Canada has reopened the Canadian covered bond market with the first deal to comply with new covered bond legislation that the country put in place late last year. The landmark $1.75bn trade was the first Canadian covered bond of 2013 and is likely to be followed by a series of other deals — although these may not now emerge until September, writes Bill Thornhill.

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