RBC Completes $1.5B Debenture Issue Following Record Q3 Earnings
Royal Bank of Canada (RBC) has reached the closing date for its offering of USD 1.5 billion in NVCC subordinated debentures, with a fixed annual interest rate of 4.67 percent until October 1, 2031.
The transaction is valued at USD 1.5 billion and will be used for general business purposes. The notes' redemption from October 1, 2031 requires prior approval from Canada's banking regulator.
RBC reported a record third quarter of fiscal 2026, with net income reaching CAD 6.0 billion, up 11.00 percent from the prior-year quarter. The bank's Wealth Management segment saw a significant increase in net income, rising 32.00 percent year over year to CAD 1.4 billion.
The bank is also exploring tokenized deposits denominated in Canadian dollars as part of its digital payments initiative. This project aims to enable faster and programmable payments between financial institutions.