TIDM88DB
RNS Number : 5922M
Royal Bank of Canada
22 September 2021
Royal Bank of Canada
22 September 2021
ROYAL BANK OF CANADA
(a Canadian chartered bank)
(the Issuer)
RBC COVERED BOND GUARANTOR LIMITED PARTNERSHIP
(the Guarantor LP)
NOTICE OF RESULTS OF MEETING
to the holders of the :
GBP650,000,000 Floating Rate Covered Bonds due December 8,
2022
(ISIN: XS1733227554) (Series: CB35)
(the Series CB35 Covered Bonds or the Covered Bonds and the
holders thereof, the Covered Bondholders)
On August 31, 2021, the Issuer announced an invitation to
Eligible Covered Bondholders (as defined in the Consent
Solicitation Memorandum) of the Series CB35 Covered Bonds described
in the table below to consent to certain amendments to the terms of
the Series CB35 Covered Bonds (the Consent Solicitation). A meeting
of the Series CB35 Covered Bondholders (the Meeting) was held
earlier today in connection with the Consent Solicitation, and the
Issuer now announces the results of the Meeting.
The full terms and conditions of the Consent Solicitation were
contained in the consent solicitation memorandum dated August 31,
2021 (the Consent Solicitation Memorandum) prepared by the Issuer.
Capitalised terms used in this announcement but not defined have
the meanings given to them in the Consent Solicitation Memorandum
and Notice of Meeting with respect to the Series CB35 Covered Bonds
dated August 31, 2021.
Results of the Meeting of the Series CB35 Covered
Bondholders
Details of the Covered ISIN Outstanding Principal Outcome of Meeting
Bonds Amount
GBP650,000,000 Floating XS1733227554 GBP650,000,000 Extraordinary
Rate Covered Bonds Resolution Passed.
due December 8,
2022
The Meeting was held earlier today, and NOTICE IS HEREBY GIVEN
to the Series CB35 Covered Bondholders that, at the Meeting in
respect of the Series CB35 Covered Bonds, the Extraordinary
Resolution was duly passed and the Eligibility Condition was
satisfied, and accordingly the Amended and Restated Series CB35
Final Terms, the Supplemental Trust Deed and the Amended and
Restated Series CB35 Covered Bond Swap Confirmation (the Amendment
Documents) relating to the Series CB35 Covered Bonds will be
executed on or prior to the Effective Date and the amendments will
be effective from December 8, 2021.
Following the Pricing Time, the Issuer will announce:
a) the LIBOR vs SONIA Interpolated Basis;
b) the Forward Start Adjustment; and
c) the Adjusted Margin (as defined below).
Summary of Modifications to the Conditions
Pursuant to the terms of the Extraordinary Resolution, the
Series CB35 Covered Bonds will be modified so that, instead of the
Interest Basis being GBP LIBOR, the Interest Basis will now become
Compounded Daily SONIA:
a) The Rate of Interest for the Series CB35 Covered Bonds from
and including December 8, 2021 will continue to be a floating rate,
but will be equal to the sum of Compounded Daily SONIA plus the
Adjusted Margin, as specified in the Amended and Restated Series
CB35 Final Terms.
b) The adjusted Margin (the Adjusted Margin) in respect of the
Series CB35 Covered Bonds will be the sum of:
a. from and including the Interest Commencement Date to (but
excluding) the Final Maturity Date, 0.23 per cent.; and
b. from and including the Final Maturity Date to (but excluding)
the Extended Due for Payment Date, 0.273 per cent.,
and in each case the LIBOR vs SONIA Interpolated Basis plus the
Forward Start Adjustment.
Further information relating to the Consent Solicitation can be
obtained directly from:
RBC Europe Limited
100 Bishopsgate
London
EC2N 4AA
United Kingdom
Attention: Liability Management Desk
Tel: +44 (0) 20 7029 7031
Email: liability.management@rbccm.com
Lucid Issuer Services Limited
The Shard, 32 London Bridge Street
London SE1 9SG
United Kingdom
Tel:+44 20 7704 0880
Email: rbc@lucid-is.com
Attention: Owen Morris
DISCLAIMER This announcement must be read in conjunction with
the Consent Solicitation Memorandum. The distribution of this
announcement and the Consent Solicitation Memorandum in certain
jurisdictions may be restricted by law, and persons into whose
possession this announcement and/or the Consent Solicitation
Memorandum comes are required to inform themselves about, and to
observe, any such restrictions. This announcement is made by the
Issuer. None of the Tabulation Agent, the Issuing and Paying Agent,
the Solicitation Agent or the Bond Trustee assumes any
responsibility for the contents of this announcement or the Consent
Solicitation Memorandum.
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT
QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE
MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU)
596/2014 (MAR) AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018.
This announcement is made by James Salem, Executive
Vice-President and Treasurer, Royal Bank of Canada , on behalf of
the Issuer.
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END
ROMEAPNAASFFEEA
(END) Dow Jones Newswires
September 22, 2021 04:55 ET (08:55 GMT)
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