Royal Bank of Canada intends to redeem all outstanding 4.18% subordinated debentures due June 1, 2014 for 100% of their principal amount plus accrued interest to the redemption date.
The redemption will occur on June 1, the bank said Thursday.
There is currently $1 billion principal amount of 4.18% debentures outstanding.
The redemption of the debentures will be financed out of the general corporate funds of Royal Bank of Canada, the bank said.
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