Royal Bank of Canada to redeem subordinated debentures
TORONTO, May 18, 2010 Royal Bank of Canada
(RY on TSX and NYSE) today announced its intention to redeem
all outstanding 3.70 per cent subordinated debentures due
June 24, 2015 (the "3.70 per cent debentures") for
100 per cent of their principal amount plus accrued interest
to the redemption date. The redemption will occur on June
24, 2010. There is currently $800,000,000 principal amount
of 3.70 per cent 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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