Why is RBC nowhere in any league table this year?

Bump

they are simps

bump

They landed a spot on one major deal last year—Suntrust—that helped them out a bit. That doesn’t make RBC a BB, despite what prospects may say on WSO

#22 in US league table (down 12 spots YoY) 

Yes, because M&A and especially during a pandemic is such a reliable business that banks who only recently made the top 10 league tables are going to do so like clockwork every year into perpetuity.  

Wonder where all the RBC simps went that were saying RBC = BB earlier this year.

the royal bank of canada

They were never even close to being a BB. They're a mid tier MM at best.

Analyst 1 in IB - Gen

Heard that they used to be a solid shop with potential to become a BB.

Stop fraternizing with RBC interns

Where do you find league table information?

14 comments chiming in, and not 1 person even specifying the "role" we are commenting on (RBC's league table ranking in terms of "the role" they played - financial advisor, Loans -- Bookrunner, or Bonds - Bookrunner??).  FYI rankings differ by role - many of you have commented on ranking of M&A/Financial Advisor.

I'll comment on Loans. RBC's "Role" - receiving league table credit for arranging loan financings (ex - Term Loan B deals) as JLA/JBR/AA (Joint Lead Arranger, Joint Bookrunner - right lead - still good and same fee % as other leads), Administrative Agent - left lead - more prestigious .

2020 deals ($MM)

• T-Mobile (M&A - Sprint) $4,000 TLB - probably the largest deal ($19,000 Bridge to Bonds too)
• Castle US (Platinum Equity)(LBO) $1,200
• Amentum Government Services (American Securities) (LBO) $1,090
• Xperi (M&A) $1,050
• First Advantage (Silver Lake) (LBO) $670
• Evonik Industries (Advent)(LBO) $612
• Bumble (Blackstone) (LBO) $575

2019 -

• had a ton of new money (not refinancings, so M&A, LBO, Div/Recaps) >$1,000 deals
• Berry Plastics $4,250
• Clarios $4,200
• Diamond Sports $3,300
• Blackstone CQP $2,600
• Genesee & Wyoming $2,550
• Dun & Bradstreet $2,530
• Sunshine Luxembourg $2,502
• Sotera Health $2,120
• Terrier Media $2,025
• Staples $2,000
• Westjet Airlines $1,955
• US Renal Care $1,620
• Oryx Southern $1,500
• Virtu Financial $1,500
• Garda World Security $1,438
• Gray Television Inc $1,400
• StandardAero $1,395
• Ancestry.com $1,385
• Sinclair Broadcast Group $1,300
• Victory Capital $1,100
• Advisor Group $1,025
• WaterBridge $1,000

also left leads on 2019-2020

• Allen Media, Innophos, Novaria, Cast & Crew, Terrier Media, Electronics for Imaging, Autodata.

I would say RBC is doing pretty decent.

Please use data to backup claims going-forward. With data, everybody wins!

T-Mobile deal - RBC on par w/ BBs - underwriting $3.1B / 11.5% of $27B in facilities

https://www.sec.gov/Archives/edgar/data/1283699/000119312519240407/d799…

Underwriters / Underwritten Amount / %

Tier 1

• RBC $3,097 11.5%
• Barclays $3,097 11.5%
• Credit Suisse $3,097 11.5%
• Deutsche Bank $3,097 11.5%
• Morgan Stanley  $3,097 11.5%
• Goldman Sachs  $3,097 11.5%

Tier 2

• BNP $1,354 5.0%
• Commerzbank $1,354 5.0%
• CACIB $1,354 5.0%
• TD Bank $1,354 5.0%
• Wells Fargo $1,354 5.0%

Tier 3

• Banco Santander $330 1.2%
• Soc Gen $330 1.2%
• SunTrust $330 1.2%
• U.S. Bank $330 1.2%
• NatWest $330 1.2%

Total $27,000

They are too busy bullying their sophomore interns on burner accounts.