FONT-SIZE Plus   Neg

RBS Updates On Transfer Of Dutch Interest To Parent

The Royal Bank of Scotland Group plc (RBS,RBS.L) Friday reported issuing two lists of securities that may be issued by RBS plc following their transfer from its Dutch business RBS NV. While one list deals exclusively with Structured Retail Products, the company elaborated, the second enumerates other Fixed Income Securities.

RBS NV also expects to include information in offer or issue documents with any future issue of these securities. Further, it is anticipated that three series of Trust Preferred Securities issued by RBS NV Capital Funding Trusts, as well as other lower tier 2 securities, will be retained by RBS NV so as to maintain its regulatory capital position.

The transfer of businesses involves a Dutch Scheme which sees the demerger of RBS II BV, a banking company created to facilitate the transfer, from RBS NV, and its subsequent merger with RBS plc. As originally announced on April 19, 2011, the targeted completion date for the transfers is December 31, 2013, with "a large part", along with the transfer of certain securities, due to complete by year-end 2012.

RBS.L is currently trading up by 0.86 percent, or 0.24 pence, at 28.14 pence on the London Stock Exchange.

RBS closed Thursday's trading at $8.85 on the NYSE.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The U.S. Consumer Products Safety Commission has asked Safety 1st to recall 35,000 highchairs after several children fell and were injured. The recall covers about 35,000 wooden Safety 1st highchairs in three models: HC144BZF (Casablanca), HC229CZF (Gentle Lace) and HC229CYG (Black Lace). Safety... Ferrari, the luxury car division of Fiat Chrysler Automobiles (FCAU) is reportedly getting a much higher valuation than previously expected driven by its premium status of manufacturing high-performance luxury cars. According to reports, Ferrari expects the IPO to bring its market valuation to about... SeaWorld Entertainment Inc. (SEAS) has received another blow to its business as the California Coastal Commission banned breeding of captive killer whales in San Diego. The new law means SeaWorld won't be allowed to breed captive orcas, including through artificial insemination, at its California...
comments powered by Disqus
Follow RTT