Royal Bank of Canada has announced:
it has closed its domestic public offering of Non-Cumulative, Preferred Shares Series BH. Royal Bank of Canada issued 6 million Preferred Shares Series BH at a price of $25 per share to raise gross proceeds of $150 million.
The offering was underwritten by a syndicate led by RBC Capital Markets. The Preferred Shares Series BH will commence trading on the Toronto Stock Exchange today under the ticker symbol RY.PR.N.
The Preferred Shares Series BH were issued under a prospectus supplement dated May 29, 2015 to the bank’s short form base shelf prospectus dated December 20, 2013.
RY.PR.N is a 4.90% Straight Perpetual announced May 28. It will be tracked by HIMIPref™ an is assigned to the PerpetualDiscounts subindex.
The issue traded 659,315 shares today (consolidated exchanges) in a wide range of 24.57-90 before closing at 24.75-85. Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2045-06-05
Maturity Price : 24.37
Evaluated at bid price : 24.75
Bid-YTW : 4.96 %