Royal Bank Issues US$750M Senior Notes

Royal Bank of Canada completed the issue of US$750 million senior notes on January 26, 2005. The notes are senior unsecured debt of the Royal Bank and bear interest at the annual rate of 4.125 per cent until their maturity on January 26, 2010. The Notes were issued by the Royal Bank in the US only under a short-form base shelf prospectus filed in Canada pursuant to the Multi-jurisdictional Disclosure System, qualifying the issue of up to US$4 billion aggregate principal amount of senior or subordinated debt securities.

The dealer syndicate was led by Merrill Lynch & Co. and RBC Capital Markets, and included Bear, Stearns & Co. Inc., Citigroup Global Markets Inc., JP Morgan Securities Inc., Morgan Stanley & Co. Inc. and UBS Securities LLC.

Royal Bank was represented by in-house counsel Drew Allen; in the US by Donald Crawshaw, Tuvia Geffen and John Houlihan of Sullivan & Cromwell LLP; and in Canada by Dawn Whittaker and Kelly Muschett of Ogilvy Renault LLP. Winthrop Conrad, Jr., Donna Chambers Campbell and Jean Weng of Davis Polk & Wardwell acted as US counsel for the dealers.