Royal Bank of Canada issues subordinated debentures
TORONTO, June 9, 2010 Royal Bank of Canada (RY on TSX and
NYSE) today announced the issuance of $1.5 billion of subordinated
debentures ("the Notes") through its Canadian Medium
Term Note Program.
The Notes bear interest at a fixed rate of 4.35 per cent
per annum (paid semi-annually) until June 15, 2015, and at
the three-month Banker's Acceptance Rate plus 1.41 per cent
thereafter until their maturity on June 15, 2020 (paid quarterly).
The issue is expected to close on June 15, 2010.
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 June 15, 2015, 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.
- 30 -
For further information, please contact:
Media contact:
Gillian McArdle,
Toronto, (416) 974-5506 or toll-free 1-888-880-2173,
gillian.mcardle@rbc.com
Investor contact:
Bill Anderson, Investor Relations, Toronto, (416) 955-7804,
william.anderson@rbc.com
|