Royal Bank of Canada intends to redeem all outstanding 3.96% subordinated debentures due Jan. 27, 2014 for 100% of their principal amount plus accrued interest, the bank said Thursday.
The redemption will occur on Jan. 27, 2009.
There is currently $500 million principal amount of 3.96% debentures outstanding.
The redemption will be financed out of the general corporate funds of Royal Bank of Canada, the bank said.
IE
Eligible Canadians with a U.S. work history will get their social security benefits restored
Growth of banks' foreign operations raises vulnerabilities: BoC paper
October sitting had 399 candidates
A death benefit of missed-out CPP payments also makes pension system more equitable
Global dealmaking revives in 2024, but remains weaker than recent years
Capital spending declined by 16% in the last decade, according to CFIB
Economist debunks Trump claim that the U.S. 'subsidizes' Canada
Regulator settles with 12 firms for a combined US$63.1 million