Royal Bank of Canada to redeem subordinated debentures

TORONTO, Feb. 11, 2013 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced its intention, subject to the final approval of the Office of the Superintendent of Financial Institutions (OSFI), to redeem on March 13, 2013 (the "redemption date") all outstanding 4.84 per cent subordinated debentures due March 11, 2018 (the "4.84 per cent debentures") for 100 per cent of their principal amount plus accrued interest to the redemption date. The principal amount of 4.84 per cent 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.

SOURCE: RBC