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Royal Bank of Canada announces NVCC subordinated debenture issue
Royal Bank of Canada announces NVCC subordinated debenture issue Canada NewsWire ...
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[{"type":"text","content":"\n\n\n\n Royal Bank of Canada announces NVCC subordinated debenture issue\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n TORONTO\n \n\n ,\n \n\n June 25, 2025\n \n\n /CNW/ - Royal Bank of\n \n Canada\n \n (TSX: RY) (NYSE: RY) today announced an offering of\n \n $1.25 billion\n \n of non-viability contingent capital (NVCC) subordinated debentures (\"the Notes\") through its Canadian Medium Term Note Program.\n \n\n\n\n\n\n\n\n\n The Notes bear interest at a fixed rate of 4.214 per cent per annum (paid semi-annually) until\n \n July 3, 2030\n \n and at Daily Compounded CORRA plus 1.51 per cent thereafter until their maturity on\n \n July 3, 2035\n \n (paid quarterly). The expected closing date is\n \n July 3, 2025\n \n . RBC Capital Markets is acting as lead agent on the issue.\n \n\n The bank may, at its option and with the prior approval of the Office of the Superintendent of Financial Institutions, redeem the Notes on or after\n \n July 3, 2030\n \n 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.\n \n\n Net proceeds from this transaction will be used for general business purposes.\n \n\n The Notes have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \"Securities Act\"), or the securities laws of any state of\n \n the United States\n \n and may not be offered, sold or delivered, directly or indirectly in\n \n the United States\n \n or to, or for the account or benefit of, a \"U.S. person\" (as defined in Regulation S under the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. This press release does not constitute an offer to sell or a solicitation to buy securities in\n \n the United States\n \n or in any other jurisdiction where such offer or solicitation...