WINNER: Royal Bank of Canadas EquityCompass
The initial principal amount for the first issue in
this programme was $13.5 million. However, further issuances
under the same programme have raised more than $58 million.
The issue required the development of an entirely new
product. The Direct Investment Notes are linked to the
EquityCompass Equity Risk Management Strategy. This makes them
an innovative product that provides for a return based on an
asset management-type structure. The success of the programme
has led to the underwriters using the same structure in a
number of other products.
Royal Bank of Canada was represented by Morrison &
AGF RMBS programme
In July last year, Credit Suisse bought loans with a value of
$1.6 billion from American General Finance, a unit of American
International Group, in a move that sparked interest