Le Lézard
Classified in: Business
Subject: OFR

Royal Bank of Canada announces NVCC subordinated debenture issue


/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Jan. 21, 2021 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced an offering of $1 billion of non-viability contingent capital (NVCC) subordinated debentures ("the Notes") through its Canadian Medium Term Note Program.

The Notes bear interest at a fixed rate of 1.67 per cent per annum (paid semi-annually) until January 28, 2028 and at the three-month Canadian Dollar Offered Rate plus 0.55 per cent thereafter until their maturity on January 28, 2033 (paid quarterly). The expected closing date is January 28, 2021. RBC Capital Markets is acting as lead agent on the issue.

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 January 28, 2028 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.

Net proceeds from this transaction will be used for general business purposes.

The Notes have not been, and will not be, registered in the United States under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly in the United States or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S under the Securities Act) absent registration under the Securities Act or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation to buy securities in the United States or in any other jurisdiction where such offer or solicitation would be unlawful.

SOURCE Royal Bank of Canada


These press releases may also interest you

at 04:00
Egypt has announced its plans to establish a map of the Egyptian human genome and enter the world of precision medicine; the Egyptian President Abdel Fattah El Sisi has been briefed on the development of the project by Prime Minister Mustafa Mabdouli...

at 04:00
Arthur J. Gallagher & Co.  today announced that it has agreed to a strategic partnership with MIG Holding Ltd (MIG Group), which will see the company take a minority interest in Middle East & North Africa (MENA) specialist insurance broker ACE....

at 04:00
The Department of Defense (DoD) continues to expand and refine the range of activities to improve the collective cybersecurity of the nation and to protect US interests from cyber attack. A new element of the cyber defense strategy is conducting...

at 04:00
For the sixth straight year, Eldorado Stone has been voted the number one brand for manufactured stone and brick veneer by builders from across the United States. BUILDER Magazine's annual Brand Use Study, conducted by Zonda's BPM Advisory Team,...

at 03:37
Plugging wells is a key part of the modernisation of the Valhall field centre, and thus also in the ambition to produce a total of two billion barrels from the giant in the North Sea.  The Maersk Invincible drilling rig left the Valhall field centre...

at 03:00
Promateris has initiated an investment project of a new division, Bio Compounds, which aims to locally manufacture raw materials from partially renewable resources, used in the production of compostable packaging. Thus, Promateris consolidates its...



News published on 21 january 2021 at 16:31 and distributed by: