Royal Bank of Canada Issues $1.1 Billion NVCC AT1 Notes
Royal Bank of Canada (TSX: RY) (NYSE: RY) has announced the issuance of $1.1 billion worth of non-viability contingent capital (NVCC) Additional Tier 1 (AT1) Limited Recourse Capital Notes, Series 9.
The LRCNs are a type of debt instrument that is designed to absorb losses in the event of a bank's insolvency.
This offering is part of Royal Bank of Canada's efforts to strengthen its capital base and meet regulatory requirements.