(June 30 – 09:45 ET) – RBC Dominion Securities Inc. is launchinga new internet-based application for the online distribution of debt issues to institutional investors, called “newissueDirect”.
DS acted as agent for the issuance of $350 million in Royal Bank of Canada deposit notes. The 6.37% notes, maturing July 7, 2003 were priced at $99.983. The deal is scheduled to settle on July 7, via newissueDirect.
newissueDirect provides secure online access to: announcements of new debt issues, terms and conditions information, offering documents, issuer information, rating agency reports, and roadshow presentation material. Orders submitted over the Internet, once confirmed, will form part of the transaction order book. At the time of issue, order fills will be confirmed online. Investors will also have the option to be informed of new issue
launches via e-mail and/or cellular text messaging.
“newissueDirect offers institutional investors more efficient and convenient access to the data they require to make investment decisions by providing secure online access to transaction-critical information,” says Jim McGivern, managing director and head of debt syndication at RBC DS. “We believe Canadian institutional investors will value the online benefits of this new form of distribution, which also includes a facility for the submission of ‘expressions of interest’ in qualified offerings.”
-IE Staff