Transactions & Cases Detail



Transaction/Case Details

Golden Credit Card Trust completes C$1.256 billion note offering

DATE CLOSED

April 28, 2011

BUSINESS SECTOR

Financial Services

LEAD OFFICE

Toronto

VALUE

1.256 Billion CAD


OVERVIEW

On April 28, 2011, Golden Credit Card Trust completed a public offering of C$1.2 billion 3.51% credit card receivables backed senior notes, series 2011-1 and C$56,544,503 5.06% credit card receivables backed subordinated notes, series 2011-1. For the senior notes, the agency syndicate was led by RBC Dominion Securities Inc. and also included BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc. RBC Dominion Securities Inc. was the sole agent for the subordinated notes. Royal Bank of Canada is the seller and the servicer of the interest in the credit card receivables acquired by the trust, which back the series 2011-1 notes.

McCarthy Tétrault LLP represented Golden Credit Card Trust and Royal Bank of Canada, with a team led by Marc MacMullin.

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