RBC to raise $1.75-billion with new tax-efficient security: Royal Bank of Canada bolstered its balance sheet this week by selling $1.75-billion of a new, tax-efficient security, opening the door to what’s expected to be a wave of similar offerings from rival Canadian banks. (Mark Rendell and Andrew Willis)
Insurers offer out-of-country medical coverage amid COVID-19 pandemic: Two major travel insurers are reinstating out-of-country medical coverage for COVID-19 even as the federal government continues to advise Canadians against non-essential travel outside the border. (Clare O’Hara)
Twice rebuffed, bidder will ask Ontario court to block $60-million sale of Torstar: The twice-spurned bidder for Torstar Corp. is planning a last-ditch attempt to derail a takeover of the media company by a rival group that has locked up shareholder support for its own $60-million bid this week. (Sean Silcoff and Jeffrey Jones)
Bombardier secures new credit worth $1-billion, burns through less cash: Bombardier Inc. has secured new credit worth US$1-billion and said it burned through less cash than expected in its latest quarter, bolstering its finances as it tries to finalize the sale of its rail business to France’s Alstom SA in the months ahead. (Nicolas Van Praet)
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