Royal Bank of Canada to redeem subordinated debentures

Feb 27, 2013, 19:48 ET from RBC

TORONTO, Feb. 27, 2013 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced that, further to the notice issued on February 11, 2013, regulatory approval has been received for the redemption of all outstanding 4.84 per cent subordinated debentures due March 11, 2018 (the "4.84 per cent debentures"), for 100 per cent of their principal amount plus accrued interest to the redemption date of March 13, 2013. The principal amount of 4.84 per cent debentures outstanding is $1,000,000,000.

The redemption of the debentures will be financed out of the general corporate funds of Royal Bank of Canada.

SOURCE RBC