RBC Capital Trust Completes $650 Million IPO

On July 24, 2000, Royal Bank of Canada (RBC) Capital Trust, a closed end unit trust, completed its initial public offering in Canada of $650 million of Trust Capital Securities—Series 2010 (RBC TruCS)TM. The offering of RBC TruCSTM will provide RBC, as the holder of certain securities of RBC Capital Trust, with a method of raising Tier 1 capital for Canadian bank regulatory purposes.

Andrew Fleming, Kenneth Snider, Michael Matheson, Wendy Warhaft and Sandra Nissan of Ogilvy Renault’s Toronto office represented RBC. Donald Brown is Royal Bank’s in-house counsel. Gordon Thompson, Henry Weircinski, Barry Ryan, James Wilson, Jerald Wortsman and Steven Kim of McCarthy Tétrault acted as counsel to RBC Capital Trust. James Lisson, Andrew McGuffin, George Valentini, Douglas Marshall and Michael Hart of Osler, Hoskin & Harcourt LLP represented the underwriting syndicate led by RBC Dominion Securities Inc.