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Provider: ValuEngine, Inc.
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Royal Bank Of Canada Issues Subordinated Debentures


Monday, 3 Dec 2012 04:25pm EST 

Royal Bank Of Canada announced that the issuance of $2 billion of subordinated debentures ("the Notes") through its Canadian Medium Term Note Program. The Notes bear interest at a fixed rate of 2.99 % per annum (paid semi-annually) until December 6, 2019, and at the three-month Banker's Acceptance Rate plus 1.10% thereafter until their maturity on December 6, 2024 (paid quarterly). The issue is expected to close on December 6, 2012. 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 December 6, 2019, 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. 

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