Latest news with #NVCC
Globe and Mail
11-07-2025
- Business
- Globe and Mail
TD Bank Group to Issue Australian Dollar NVCC Subordinated Debentures
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO, July 10, 2025 /CNW/ - The Toronto-Dominion Bank ("TD" or the "Bank") (TSX: TD) (NYSE: TD) today announced the pricing of a private placement offering of AUD 30 million of Fixed-to-Floating Rate Subordinated Notes (Non-Viability Contingent Capital (NVCC)) constituting subordinated indebtedness of the Bank (the "Notes").
Yahoo
11-07-2025
- Business
- Yahoo
Royal Bank of Canada announces Japanese Yen NVCC subordinated debenture issue
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO, July 10, 2025 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced a private placement offering of JPY 26 billion of non-viability contingent capital (NVCC) subordinated debentures ("the Notes") through its European Programme for the Issuance of Securities. The Notes bear interest at a fixed rate of 1.963 per cent per annum (paid semi-annually) until July 17, 2030 and at the 5 year Tokyo Overnight Average Rate (TONA) mid-swap rate plus 1.02 per cent thereafter until their maturity on July 17, 2035 (paid semi-annually). The expected closing date is July 17, 2025. RBC Capital Markets and Nomura International are acting as lead managers on the issue. The bank may, at its option and with the prior approval of the Office of the Superintendent of Financial Institutions, redeem the Notes at any time on or after July 17, 2030, in whole but not in part, at par plus accrued and unpaid interest, on not less than 30 days' and not more than 60 days' notice to registered holders. Net proceeds from this transaction will be used for general business purposes. The Notes are expected to qualify as Tier 2 capital of RBC for regulatory purposes. Disclaimers The Notes have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly in the United States or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S under the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. This press release does not constitute an offer to sell or a solicitation to buy securities in the United States or in any other jurisdiction where such offer or solicitation would be unlawful. United Kingdom Markets in Financial Instruments Regulation ("UK MiFIR") professionals / eligible counterparties-only / No European Union or United Kingdom Packaged Retail and Insurance-based Investment Products key information document ("KID") – Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No KID has been prepared as not available to retail in European Economic Area or the United Kingdom. This document is being distributed only to, and is directed only at, persons who: (i) are outside the United Kingdom, or (ii) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FPO"), or (iii) are high net worth entities and other persons to whom it may lawfully be communicated falling within Article 49(2)(a) to (d) of the FPO (all such persons together being referred to as "relevant persons"). Any investment activity to which this document relates will only be available to, and will only be engaged in with, relevant persons. Any person who is not a relevant person should not act on or rely on this document or any of its contents. Sales in Japan to Qualified Institutional Investors only. For further information, please contact: Investor Contact: Asim Imran, Investor Relations, 416-955-7804 Media Contact: Tracy Tong, Financial Communications, 416-655-1915 SOURCE Royal Bank of Canada View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
09-07-2025
- Business
- Globe and Mail
CIBC to Issue 7.000% NVCC AT1 Limited Recourse Capital Notes
TORONTO, July 9, 2025 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced the public offering in the United States of US$750 million of 7.000% Fixed Rate Reset Limited Recourse Capital Notes Series 7 (Non-Viability Contingent Capital (NVCC)) (Subordinated Indebtedness) (the "LRCNs").
Yahoo
25-06-2025
- Business
- Yahoo
Royal Bank of Canada announces NVCC subordinated debenture issue
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO, June 25, 2025 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced an offering of $1.25 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 4.214 per cent per annum (paid semi-annually) until July 3, 2030 and at Daily Compounded CORRA plus 1.51 per cent thereafter until their maturity on July 3, 2035 (paid quarterly). The expected closing date is July 3, 2025. RBC Capital Markets is acting as lead agent on the issue. The bank may, at its option and with the prior approval of the Office of the Superintendent of Financial Institutions, redeem the Notes on or after July 3, 2030 at par, in whole at any time or in part from time to time, on not less than 30 days' and not more than 60 days' notice to registered holders. Net proceeds from this transaction will be used for general business purposes. The Notes have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly in the United States or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S under the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. This press release does not constitute an offer to sell or a solicitation to buy securities in the United States or in any other jurisdiction where such offer or solicitation would be unlawful. For further information, please contact: Investor Contact:Asim Imran, Investor Relations, 416-955-7804 Media Contact:Tracy Tong, Financial Communications, 416-655-1915 SOURCE Royal Bank of Canada View original content to download multimedia:
Yahoo
19-06-2025
- Business
- Yahoo
National Bank of Canada Announces NVCC Subordinated Notes Offering
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./ MONTREAL, June 19, 2025 /CNW/ - National Bank of Canada (the "Bank") (TSX: NA) today announced that it intends to issue Medium Term Notes for an aggregate principal amount of $750,000,000 at an interest rate of 4.333% and maturing on August 15, 2035 (Non-Viability Contingent Capital (NVCC)) constituting subordinated indebtedness of the Bank through its Medium Term Note Program (the "Notes"). The Notes will be issued and sold through a dealer syndicate led by National Bank Financial Inc. The Notes are expected to be issued on June 26, 2025 and will mature on August 15, 2035. Interest on the Notes will be paid semi-annually at 4.333% per annum until August 15, 2030, and thereafter at a floating rate equal to daily compounded CORRA plus 1.61%, payable quarterly. The Bank may, at its option, with the prior approval of the Superintendent of Financial Institutions (Canada), redeem the Notes on or after August 15, 2030, in whole or in part, at par plus accrued and unpaid interest, on not less than 10 nor more than 60 days' prior notice to holders. The proceeds to the Bank from the sale of the Notes will be added to the Bank's general funds and will be utilized for general banking purposes. The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or under any state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the United States and its territories and possessions or to, or for the account or benefit of United States persons except in certain transactions exempt from the registration requirements of such Act. This press release shall not constitute an offer to sell or a solicitation to buy securities in the United States. Caution Regarding Forward-Looking StatementsCertain statements in this press release are forward-looking statements. All such statements are made in accordance with applicable securities legislation in Canada and the United States. Forward-looking statements in this press release may include, but are not limited to, statements made about the potential issuance of Notes and the anticipated timing thereof. These forward-looking statements are typically identified by verbs or words such as "outlook", "believe", "foresee", "forecast", "anticipate", "estimate", "project", "expect", "intend" and "plan", in their future or conditional forms, notably verbs such as "will", "may", "should", "could" or "would", as well as similar terms and expressions. These statements are based on a number of assumptions and are subject to risk factors, inherent risks and uncertainties, many of which are beyond National Bank's control and the impacts of which are difficult to predict. Except as required by law, National Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time, by it or on its behalf. The forward-looking information contained in this press release is presented for the purpose of interpreting the information contained herein and may not be appropriate for other purposes. About National Bank of CanadaWith $536 billion in assets as at April 30, 2025, National Bank of Canada is one of Canada's six systemically important banks. The Bank has approximately 34,000 employees in knowledge-intensive positions and operates three business segments in Canada: Personal and Commercial Banking, Wealth Management and Financial Markets. A fourth segment, U.S. Specialty Finance and International, complements the growth of its domestic operations. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at or via social media. SOURCE National Bank of Canada View original content to download multimedia:
