Royal Bank of Canada announces increase to Preferred Share
Issue
TORONTO, September 8, 2008 — Royal Bank of Canada
(RY on TSX and NYSE) today announced that as a result of strong
investor demand for its domestic public offering of Non-Cumulative,
5 year rate reset Preferred Shares Series AJ (the "Preferred
Shares Series AJ"), the size of the offering has been
increased to 14 million shares. The gross proceeds of the
offering will now be $350 million. In addition, the bank has
granted the Underwriters an option, exercisable in whole or
in part, to purchase up to an additional 2 million Preferred
Shares Series AJ at a price of $25 per share.
The offering will be underwritten by a syndicate led by RBC
Capital Markets. The expected closing date is September 16,
2008.
The net proceeds of this transaction will be used for general
business purposes and will strengthen the bank's capital ratios.
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For further information, please contact:
Investor Contacts:
Shirley Boudreau, Shareholder Relations Officer, Toronto
(416) 955-7806, shirley.boudreau@rbc.com
Media Contact:
Beja Rodeck, Media Relations, Toronto - (416) 974-5506,
toll-free 1-888-880-2173, beja.rodeck@rbc.com
Or visit the site: www.rbc.com/investorrelations/
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