RBC keeps it tight after super-subs cash in

By David Rothnie
15 Jan 2021

Royal Bank of Canada priced its first bond issue of the year as Yankee borrowers made the most of good funding conditions in the run-up to US bank earnings season.

With bank spreads still tightening, RBC came to the market on Wednesday and took home $3.25bn across four tranches, printing a $1.25bn five year at 42bp over US Treasuries, 1bp inside where rival TD Dominion, rated Aa3/A , landed a tenor of the same size a week previously.


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