TORONTO, June 10, 2019 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced its intention to redeem all outstanding Non-Viability Contingent Capital (NVCC) 3.04 per cent subordinated debentures due July 17, 2024 for 100 per cent of their principal amount plus accrued interest to, but excluding, the redemption date. The redemption will occur on July 17, 2019. The current principal amount of 3.04 per cent subordinated debentures outstanding is $1,000,000,000.
The redemption of the debentures will be financed out of the general corporate funds of Royal Bank of Canada.
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 84,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to more than 16 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.