Royal Bank of Canada to redeem subordinated debentures
TORONTO, March 2, 2007 — Royal Bank of Canada
(RY on TSX and NYSE) today announced its intention to redeem
all outstanding 6.75% subordinated debentures due June 4,
2012 (the "6.75% debentures"), for 100 per cent
of their principal amount plus accrued interest to the redemption
date. The redemption will occur on June 4, 2007 and is subject
to OSFI approval. There is currently $500,000,000 principal
amount of 6.75% debentures outstanding.
The redemption of the debentures will be financed out of
the general corporate funds of Royal Bank of Canada.
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For further information, please contact:
Media contact:
Beja Rodeck, Media Relations, Toronto, (416) 974-5506 or toll-free
1-888-880-2173,
beja.rodeck@rbc.com
Investor contact:
Dave Mun, Investor Relations, Toronto, (416) 955-7808, dave.mun@rbc.com
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