OTTAWA (dpa-AFX) - Royal Bank of Canada (RY.TO, RY) announced an offering of C$1.25 billion of non-viability contingent capital or NVCC subordinated debentures through its Canadian Medium Term Note Program.
The Notes bear interest at a fixed rate of 4.214 per cent per annum until July 3, 2030 and at Daily Compounded CORRA plus 1.51 percent thereafter until their maturity on July 3, 2035 (paid quarterly). The expected closing date is July 3, 2025. RBC Capital Markets is acting as lead agent on the issue.
The bank said it may redeem the Notes on or after July 3, 2030 at par, 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 registered holders.
The company plans to use net proceeds from the transaction for general business purposes.
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