Breaking News
FONT-SIZE Plus   Neg
Share SHARE

RBS Updates On Transfer Of Dutch Interest To Parent

The Royal Bank of Scotland Group plc (RBS: Quote,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.

Register
To receive FREE breaking news email alerts for Royal Bank of Scotland Group PLC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Amazon.com, Inc. said Thursday that its second quarter loss widened from last year, as operating expenses outpaced revenue growth amid heavy spending on new technology and contents. The company's quarterly loss per share was also wider than what analysts expected, but is quarterly sales came in line with analysts' forecast. The company also forecast an operating loss for the current quarter. After failing to sustain an initial upward move, stocks showed a lack of direction throughout much of the trading day on Thursday. The major averages eventually closed nearly unchanged, turning in a mixed performance for the second straight day. New home sales in the U.S. showed a notable decrease in the month of June, according to a report released by the Commerce Department on Thursday, with the steep drop offsetting the jump seen in the previous month.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.