TORONTO, Jan. 21, 2014 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE)
today announced that as a result of strong investor demand for its
previously announced domestic public offering of Non-Cumulative, 5-Year
Rate Reset Preferred Shares Series AZ, the size of the offering has
been increased to 20 million shares. The gross proceeds of the offering
will now be $500 million. The offering will be underwritten by a
syndicate led by RBC Capital Markets. The expected closing date is
January 30, 2014.
We routinely undertake funding transactions to maintain strong capital
ratios and a cost effective capital structure. Net proceeds from this
transaction will be used for general business purposes.
For further information:
Shirley Boudreau, Shareholder Relations, 416-955-7806
Karen McCarthy, Investor Relations, 416-955-7809
Tanis Feasby, Communications, 416-955-5172
Or visit the site: http://www.rbc.com/investorrelations/