Royal Bank of Canada to redeem subordinated debentures

TORONTO, May 1, 2013 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced its intention to redeem all outstanding 5.00 per cent subordinated debentures due June 6, 2018 (the "5.00 per cent debentures") for 100 per cent of their principal amount plus accrued interest to the redemption date. The redemption will occur on June 6, 2013. The current principal amount of 5.00 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