On November 5, 2021, Royal Bank of Canada completed its inaugural institutional preferred share offering valued at $750 million – the first Canadian bank to complete this type of offering. This offering was the next step in RBC’s Tier 1 capital offerings, following its inaugural $1.75 billion Limited Recourse Capital Notes (LRCN) offering completed in July 2020 and subsequent $1.25 billion LRCN offering in November 2020 and $1 billion LRCN offering in June 2021, using the now market standard form of AT1 capital instrument pioneered by Osler.
Royal Bank of Canada is a Canadian multinational financial services company and the largest bank in Canada by market capitalization.
Osler, Hoskin & Harcourt LLP represented Royal Bank of Canada with a team consisting of Rosalind Hunter, Jeremy Wu, Alexandra Alacchi (Corporate), and Timothy Hughes (Tax).
Key Contact
Partner, Corporate, Toronto
Team
Associate, Corporate, Toronto
Associate, Corporate, Toronto
Partner, Tax, Toronto
