Royal Bank of Canada (RBC) is raising $1.6 billion in a two part sale o U.S. dollar-denominated bonds, The Wall Street Journal reports. The bonds worth $1.25 billion, which carry a coupon rate of 2.30%, will mature on July 7, 2012 while the $350 million floating rate notes will be due on April 17, 2014.

The fixed-rate securities were priced at 99.939 at 88 basis point over the Treasurys, while the floating-rate notes were priced at 28 basis points over the Treasurys. RBC, Citigroup and Wells Fargo Securities are the lead book-running managers for the sale.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Reuters.