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
LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that it swung to a second quarter loss, hurt by higher costs and expenses even as revenue surged 47%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Kraton Performance Polymers, Inc. (KRA), Wednesday reported second-quarter net income of $11.1 million or $0.33 per share, up from $3.8 million or $0.12 per share last year. Adjusted earnings improved to $0.46 per share from $0.15 per share last year. Revenues for the quarter dropped to $323.8... Organic grocer Whole Foods Market, Inc. said Wednesday after the markets closed that its third quarter profit rose 6.3% from last year, as same-store sales increased 3.9%. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly sales fell shy of analyst' forecast.
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.