Golden Credit Card Trust Closes $825M US Note Offering

Golden Credit Card Trust, a Canadian special purpose issuer, closed its offering of $825 million US aggregate principal amount of Credit Card Receivables Backed Senior Floating Rate Notes, Series 2011-2. The offering of the notes was made in the United States pursuant to Rule 144A under the U.S. Securities Act of 1933. The joint lead bookrunners for the transaction were RBC Capital Markets, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated. Royal Bank of Canada is the seller and the servicer of the credit card receivables in which the Trust purchased a co-ownership interest and which back the Series 2011-2 Notes.

Working with Royal Bank of Canada in-house counsel, Erin Dion, McCarthy Tétrault LLP acted for the Trust and Royal Bank of Canada with a team that included Marc MacMullin, Andrew Parker, Michael McConnell, Matthew Appleby and Emily Ng (corporate) and Gabrielle Richards (tax). Katten Muchin Rosenman LLP provided US legal advice to the Trust and Royal Bank of Canada with a team that included Joseph Topolski and Mitch Sprengelmeyer (corporate) and Anna-Liza Harris (tax).

The joint lead bookrunners were advised on Canadian and US matters by Osler, Hoskin & Harcourt LLP with a team that included Rick Fullerton (corporate) and Lara Friedlander (tax) in Toronto; and Jason Comerford (corporate) and Bill Corcoran (tax) in New York.

Lawyer(s)

Firm(s)