Stocks in play: RBC

RBC (RY) plans to issue $1.5B in NVCC subordinated debentures. The debentures will have a 4.67% fixed rate until 2031, then switch to CORRA+1.16% until 2036. The offering closes on October 1, 2026, and the debentures are callable at par from 2031, subject to regulatory approval.

Canada's six largest banks (BMO, CIBC, National Bank, RBC, Scotiabank, TD) are exploring a joint project for Canadian dollar tokenized deposits on a blockchain. The initiative aims to enable efficient movement of tokenized deposits among financial institutions, with potential expansion to other digital assets. The banks also participate in a similar U.S. project via The Clearing House.

Royal Bank of Canada (RY) plans to issue $1.5 billion in NVCC subordinated debentures via its Canadian Medium Term Note Program. The offering is part of the bank's funding strategy.

Royal Bank of Canada (RY) announced a $1.1B offering of NVCC AT1 Limited Recourse Capital Notes, maturing in 2086. The notes bear a 6.275% interest rate initially, resetting every 5 years. RBC Capital Markets is the lead agent. Proceeds will be used for general business purposes.

Canadian banks committed $325 billion in new financing for businesses and infrastructure. TD Bank pledged $150 billion, Scotiabank $100 billion, BMO $70 billion, CIBC $2 billion, and RBC $1.5 billion. BMO's commitment targets energy, AI, and defense sectors, with strong Q3 earnings growth. BMO shares are up 36% in 2026, trading at $242 with a 2.8% dividend yield.

Canada Investment Summit secured nearly $500 billion in new investments. Key commitments include $50 billion from CPP Investments and Brookfield, $25 billion from PSP Investments, and $10 billion from Ontario Teachers’ Pension Plan. Banks like TD, Scotiabank, and BMO pledged billions for strategic sectors. The government announced $700 million for defense and critical minerals. Prime Minister Carney highlighted Canada's investment potential.