Royal Bank of Canada has raised $1.12 billion in a sale of covered bonds, The Wall Street Journal reports. The minimum targeted to be raised from the offering was $662.7 million.
The bonds, which have been issued to refinance mortgages or public sector loans, carry a coupon of 3.77%, and are due to mature in 2018. RBC has issued covered bonds denominated in Canadian and U.S. dollars as well as in euros.
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