Royal Bank Completes AU$1.25B Kangaroo Offerings

On April 4, 2007, Royal Bank of Canada issued AU$1,000,000,000 Floating Rate Deposit Notes due April 2010 and AU$250,000,000 6.50 per cent deposit notes due April pursuant to its Euro Programme for the issuance of notes. The notes were offered and sold in the Australian domestic market and included customary terms and conditions governed by Australian law. In Australian parlance, the issues are characterized as Kangaroo “bolt-ons” to a flexible European debt issuance programme. The notes were offered by an underwriting syndicate led by Royal Bank of Canada, Sydney and including Australia and New Zealand Banking Group Limited, National Australia Bank Limited, St. George Bank Limited and Westpac Banking Corporation.

Susan Mann and Peter Noble of Ogilvy Renault LLP and Paul Guthrie and Melinda Anderson of the RBC Law Group represented Royal Bank of Canada as to Canadian law matters. Richard Fawcett and Michelle Teng of Blake Dawson Waldron (Sydney) were Australian counsel to the bank. The underwriters were represented by Rowan Russell, Sophie Chalton and Rebecca Keep of Mallesons Stephen Jaques (London) and Greg Hammond and Andy Ferris of Mallesons Stephen Jaques (Sydney).


Peter S. Noble Susan E. Mann


Norton Rose Fulbright Canada LLP Blake Dawson Waldron Mallesons Stephen Jaques