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TORONTO, Jan. 21, 2021 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced an offering of $1 billion of non-viability contingent capital (NVCC) subordinated debentures ( the Notes ) through its Canadian Medium Term Note Program.
The Notes bear interest at a fixed rate of 1.67 per cent per annum (paid semi-annually) until January 28, 2028 and at the three-month Canadian Dollar Offered Rate plus 0.55 per cent thereafter until their maturity on January 28, 2033 (paid quarterly). The expected closing date is January 28, 2021. RBC Capital Markets is acting as lead agent on the issue.
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goeasy Ltd. (TSX:GSY), (
goeasy or the
Company ), a leading full-service provider of goods and alternative financial services, announced today that it has completed the establishment of a new $200 million revolving securitization warehouse facility (the
Securitization Facility ), structured and underwritten by National Bank Financial Markets.
The Securitization Facility, which will be collateralized by consumer loans originated by goeasy s wholly owned subsidiary, easyfinancial Services Inc., will have an initial term of three years and interest on advances will be payable at the rate of 1-month CDOR (Canadian Dollar Offered Rate) plus 295 bps. Based on the current 1-month CDOR rate of 0.47% as of December 9, 2020, the interest rate would be 3.42%. The Company also intends to establish an interest rate swap agreement to generate fixed rate payments on the amounts drawn and mitigate the impact of interest rate volatility. Proceeds from the Securitization Facility w