(February 6 – 15:00 ET) – Royal Bank of Canada has issued $125 million of subordinated debentures through its Canadian Medium Term Note Program.

The notes bear interest at a fixed rate of 5.50 % per year (paid semi- annually) until February 13, 2006, and at the 90-day Banker’s Acceptance Rate plus 1% thereafter until their maturity on February 13, 2011. The issue was priced at $99.711 with the yield to February 13, 2006 of 5.567 %.

The issue is expected to close on February 13, 2001.

The bank says the proceeds of the issue will be added to the bank’s general funds and will be utilized for general banking purposes.

RBC Dominion Securities Inc. acted as lead agent on the issue.
-IE Staff