Davis Polk acted as special counsel to RBC Capital Markets, LLC, Barclays Capital Inc. and Citigroup Global Markets Inc. as joint lead managers on an SEC-registered offering by Royal Bank of Canada of $2 billion aggregate principal amount of 2% covered bonds due 2018. 

RBC is Canada’s largest bank by assets and market capitalization, and among the largest banks in the world by market capitalization. RBC is one of North America’s leading diversified financial services companies, and provides personal and commercial banking, wealth management services, insurance, investor services and wholesale banking on a global basis. 

The Davis Polk corporate team included partner Luigi L. De Ghenghi, associate Daniel E. Newman and law clerk Amir Nezar. All members of the Davis Polk team are based in the New York office.