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Royal Bank Of Canada Partners With Diverse-owned Broker Dealers On US$750 Million Green Bond

TORONTO, July 15, 2021 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced the successful completion of a 5-year US$750 million Green Bond offering.

TORONTO, July 15, 2021 /CNW/ - Royal Bank of Canada (TSX: RY)  (RY) - Get Royal Bank of Canada Report today announced the successful completion of a 5-year US$750 million Green Bond offering.

The transaction is RBC's second Green Bond offering, following its inaugural EUR500 million 5-year Green Bond in 2019. Importantly, it represents RBC's first issuance through its Sustainable Bond Framework which was launched in 2020 as part of the bank's commitments to advancing its sustainable finance and environmental, social and governance (ESG) leadership.

The proceeds will finance or refinance a portfolio of assets primarily in the categories of renewable energy, green buildings, sustainable land use and clean transportation.

RBC Capital Markets LLC, Goldman Sachs & Co. LLC, ING Financial Markets LLC, and NatWest Markets Securities Inc. served as joint bookrunners on the deal. Academy Securities Inc., Samuel A. Ramirez & Company, Inc., R Seelaus & Co., LLC, and Siebert Williams Shank & Co., LLC served as joint lead managers and represent broker dealers owned and/or operated by leaders across underrepresented groups, including people of color, women, and service-disabled veterans. The engagement of these diverse broker dealers in the transaction elevated the offering, facilitating allocations into unique pockets of demand and further enhancing distribution.

"Our second Green Bond is another important step forward in advancing our Purpose-driven approach to accelerating the transition to a net zero economy and in supporting projects and organizations that share in our goal of contributing to a more sustainable and inclusive future," said Lindsay Patrick, Head, Strategic Initiatives & ESG, RBC Capital Markets. "We have long believed that capital can be a positive force for change. Partnering with a diverse syndicate of underwriters and issuing in the U.S., RBC's second home market, further diversifies our Green Bond investor base as we seek to create long-term, sustainable value for our clients, communities, employees, and shareholders."

In February 2021, RBC announced progress and bolder goals through its Climate Blueprint with an increased commitment to mobilize $500 billion in sustainable finance by 2025, following the 2020 achievement of its initial $100 billion commitment. RBC also committed to net-zero emissions in its lending by 2050, aligned with the global goals of the Paris Agreement. More details can be found through a series of recent reports which together demonstrate RBC's accelerated commitments to helping clients thrive and communities prosper:

RBC has long-established environmental leadership, dating back to 1991, when it launched its first corporate environmental policy. In 2017, RBC was the first Canadian bank to publish a TCFD aligned disclosure outlining the steps it was taking to manage climate risks and opportunities, and describing the organization's ongoing commitment to climate-related disclosures.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Green Bonds or any other securities, nor shall there be any sale of the green bonds in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

ABOUT RBCRoyal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 86,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.‎

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

SOURCE Royal Bank of Canada