On April 13, 2004, Royal Bank of Canada completed the issue of $1 billion of series 8 medium term notes. The notes bear interest at a fixed rate of 4.18 per cent per annum until June 1, 2009, and at the three-month banker’s acceptance rate plus 1 per cent thereafter until their maturity on June 1, 2014.
The notes were issued under a short form base shelf prospectus of Royal Bank of Canada dated July 28, 2003 qualifying the issue of up to $4 billion aggregate principal amount of medium term notes.
The offering was led by RBC Capital Markets with a dealer syndicate comprised of Scotia Capital Inc., CIBC World Markets Inc., BMO Nesbitt Burns Inc., TD Securities Inc., Merrill Lynch Canada Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Desjardins Securities Inc. and Laurentian Bank Securities Inc.
Royal Bank of Canada was represented in-house by Antonella Deo, senior counsel, and Paul Guthrie, counsel; and assisted by Victor Peter and Jane Son of Ogilvy Renault.
The dealers were represented by Stikeman Elliott, with a team that included Mihkel Voore and Maurice Swan.