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During 2002, over 60 per cent of new listings on the Toronto Stock Exchange (TSX) were income trusts. Investor appetite for income trusts was evidenced by the completion of approximately $10 billion of financings, the highest amount raised since 1997, bringing the total market capitalization of the sector to approximately $50 billion or 7 per cent of the TSX Composite Index.
RBC Capital Markets has been a leader and innovator in the income trust market in Canada for the past two decades. Throughout this period, RBC has consistently provided unique, customized solutions to meet our clients' needs while developing unparalleled income trust capabilities and expertise.
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#1 underwriter for income trust IPOs since 1995 |
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Top ranked research, sales and trading and dedicated investment banking to the sector |
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Largest retail distribution network of any Canadian bank (based on assets under management) with significant retail distribution capabilities in the U.S. |
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Founding member of the Canadian Association of Income Funds (CAIF) |
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RBC Capital Markets has demonstrated its commitment to this important sector with a dedicated Income Trust Group within Global Investment Banking, which is mandated to provide support to various industry groups in the origination and execution of equity and merger and acquisitions (M&A) mandates in North America.
Origination & Evaluation
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Evaluate potential income trust opportunities that are sourced either by the Income Trust Group or other members of RBC Financial Group. |
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Act as a resource within RBC for information about income trusts; specifically, evaluating opportunities as well as providing structuring advice, market commentary and insight into current sector trends. |
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Support M&A activities for trust clients and corporate conversions. |
Structuring
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RBC has been at the forefront in creating innovative, customized, structured solutions to meet individual client's needs. |
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Provide advice on structural issues based on precedents to improve marketability. |
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The Income Trust Group has worked closely with Canadian and U.S. tax counsel in developing and refining structures to optimize the income trust structure for U.S. assets/partnerships/companies. |
Marketing
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Work closely with industry groups and Equity Capital Markets group to ensure effective marketing process. |
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Provide guidance and input in creation of marketing documents including prospectus drafting, preparation of confidential information memorandums and roadshow presentations. |
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Maintain relationships with institutional buyers of trusts. | |
