Canada's largest bank served up its second preferred share offering in as many months on Tuesday, as Royal Bank of Canada launched a $200-million equity sale.

Royal Bank is selling 8 million shares at $25 each, with the equity sporting a 6.1 per cent dividend over the next five years. after that, the rate resets at 413 basis points over the comparable government of Canada five year bond.

RBC Dominion Securities is leading the transaction. Most of the domestic banks and insurers have done preferred share financings in recent months, rebuilding their balance sheets and tapping into investor demand for income-producing products.

Royal Bank announced a $200-million preferred share sale in late March, then bumped the offering up to $325-million in the face of strong demand.