U.S. Markets open in 58 mins

Royal Bank of Canada to redeem subordinated debentures

TORONTO , Oct. 18, 2019 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced its intention to redeem all outstanding 2.99 per cent subordinated debentures due December 6, 2024 for 100 per cent of their principal amount plus accrued interest to, but excluding, the redemption date. The redemption will occur on December 6, 2019 . The current principal amount of 2.99 per cent subordinated debentures outstanding is $2,000,000,000 .

The redemption of the debentures will be financed out of the general corporate funds of Royal Bank of Canada .

SOURCE Royal Bank of Canada

View original content: http://www.newswire.ca/en/releases/archive/October2019/18/c1665.html