This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Royal Bank Of Canada Issues Subordinated Debentures

TORONTO, Dec. 3, 2012 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced the issuance of $2 billion of subordinated debentures ("the Notes") through its Canadian Medium Term Note Program.

The Notes bear interest at a fixed rate of 2.99 per cent per annum (paid semi-annually) until December 6, 2019, and at the three-month Banker's Acceptance Rate plus 1.10 per cent thereafter until their maturity on December 6, 2024 (paid quarterly).  The issue is expected to close on December 6, 2012.

The bank may, at its option, with the prior approval of the Office of the Superintendent of Financial Institutions Canada, redeem the Notes on or after December 6, 2019, in whole at any time or in part from time to time, on not less than 30 days and not more than 60 days notice to the registered holders.

Proceeds of the issue will be added to the bank's general funds and will be utilized for general banking purposes.

RBC Capital Markets acted as lead agent on the issue.

SOURCE RBC

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs