RBC debuts SEC-approved covered bonds

Investors have gained a new place to park their cash; RBC is issuing the first-ever publicly traded, U.S. dollar covered bonds, reports NASDAQ.

They are touted as top-quality assets guaranteed by the bank, and backed by a pool of mortgages.

RBC was given the green light to sell the bonds on May 18, 2012. Syndicate desks say the deal could be a multibillion- dollar issue, as the bank’s filing with SEC enables it to sell up to $12 billion. Read more.

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