Awards for Excellence
Worsening conditions in the energy and commodity sectors were not enough to unsettle RBC Capital Markets in its continued dominance of the Canadian investment banking landscape, for which it again wins Euromoney’s best investment bank in Canada award. Cross-border work continues to be a big theme, with highlights including advising Enbridge on its $43.4 billion merger with Spectra Energy of the US, the largest ever acquisition by a Canadian firm, completed in March 2017. Smaller, but arguably more eye-catching for the way in which it showcased the bank’s ability to act across asset classes when needed, was its financing work for the $13 billion acquisition of Columbia Pipeline Group by TransCanada Pipelines.
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| Doug McGregor, CEO, RBC Capital Markets |
That mandate had already seen it act as lead left bookrunner on a $4.4 billion offer of subscription receipts by TransCanada in the first quarter of 2016, but it followed that up later in the year with a $3.5 billion common share offering alongside C$1 billion ($757 million) of preferred – the biggest preferred deal in the country in 2016.