Royal Bank Of Canada (TSE:RY) has released an update.
Royal Bank of Canada has announced an underwriting agreement for the issuance of $1 billion in 7.500% Limited Recourse Capital Notes, Series 4, and 1,000,000 Non-Cumulative 5-Year Fixed Rate Reset First Preferred Shares, Series BV. These financial instruments are part of the bank’s Non-Viability Contingent Capital (NVCC) and will be supported by a consortium of underwriters led by RBC Capital Markets, LLC. The bank cautions investors not to rely solely on the representations and warranties of the underwriting agreement as an indication of the bank’s financial condition.
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