Royal Bank of Canada today announced that RBC Subordinated Notes Trust, a closed-end trust wholly owned by the bank, has filed a preliminary prospectus with various securities commissions across Canada providing for the issuance of trust subordinated notes.

RBC Subordinated Notes Trust intends to issue subordinated debt that will qualify as subordinated debt of the bank for regulatory purposes. The trust subordinated notes will be sold through a dealer group led by RBC Capital Markets.

The capital will be used for general corporate purposes and will improve the efficiency of the bank’s capital structure. The amount and timing of the issuance will be communicated once they are determined.