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Royal Bank of Scotland Group PLC Prices $1 Billion 10-Year Tier 2 Security
Royal Bank of Scotland Group PLC announced that it has completed the pricing of its 10-year, USD1,000,000,000 aggregate principal amount of 6.100% Subordinated Tier 2 Notes due June 10, 2023. The proceeds to RBSG (before expenses and underwriting discounts) of approximately USD 994,090,000 will be used in part to fund the purchase by The Royal Bank of Scotland N.V. of a certain aggregate amount of subordinated debt securities pursuant to a concurrent cash tender offer. The remaining net proceeds will be used for general corporate purposes. The offering is scheduled to close on June 10, 2013
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