Royal Bank of Canada (RY.TO,RY) announced an offering of C$1.25 billion of non-viability contingent capital or NVCC subordinated debentures through its Canadian Medium Term Note Program.
The Notes bear interest at a fixed rate of 4.214 per cent per annum until July 3, 2030 and at Daily Compounded CORRA plus 1.51 percent thereafter until their maturity on July 3, 2035 (paid quarterly). The expected closing date is July 3, 2025. RBC Capital Markets is acting as lead agent on the issue.
The bank said it may redeem the Notes on or after July 3, 2030 at par, in whole at any time or in part from time to time, on not less than 30 days' and not more than 60 days' notice to registered holders.
The company plans to use net proceeds from the transaction for general business purposes.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.