{"id":29779,"date":"2015-07-15T01:53:51","date_gmt":"2015-07-15T06:53:51","guid":{"rendered":"http:\/\/prefblog.com\/?p=29779"},"modified":"2015-07-15T01:53:51","modified_gmt":"2015-07-15T06:53:51","slug":"new-issue-ry-straight-perpetual-4-90-nvcc","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=29779","title":{"rendered":"New Issue: RY Straight Perpetual, 4.90%, NVCC"},"content":{"rendered":"<p>The Royal Bank of Canada <a href=\"http:\/\/www.rbc.com\/newsroom\/news\/2015\/20150714-nvcc-shares.html\">has announced<\/a>:<\/p>\n<blockquote><p> a domestic public offering of Non-Cumulative, Preferred Shares Series BI.<\/p>\n<p>Royal Bank of Canada will issue 6 million Preferred Shares Series BI priced at $25 per share to raise gross proceeds of $150 million. The bank has granted the Underwriters an option, exercisable in whole or in part, to purchase up to an additional 2 million Preferred Shares Series BI at the same offering price.<\/p>\n<p>The Preferred Shares Series BI will yield 4.90 per cent annually, payable quarterly, as and when declared by the Board of Directors of Royal Bank of Canada.<\/p>\n<p>Subject to regulatory approval, on or after November 24, 2020, the bank may redeem the Preferred Shares Series BI in whole or in part at a declining premium.<\/p>\n<p>The offering will be underwritten by a syndicate led by RBC Capital Markets. The expected closing date is July 22, 2015.<\/p>\n<p>We routinely undertake funding transactions to maintain strong capital ratios and a cost effective capital structure. Net proceeds from this transaction will be used for general business purposes.<\/p><\/blockquote>\n<p>It&#8217;s very nice to see another Straight Perpetual coming out, but disappointing that it has the same coupon as RY.PR.W and RY.PR.N! <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Royal Bank of Canada has announced: a domestic public offering of Non-Cumulative, Preferred Shares Series BI. Royal Bank of Canada will issue 6 million Preferred Shares Series BI priced at $25 per share to &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-29779","post","type-post","status-publish","format-standard","hentry","category-new-issues"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/29779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29779"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/29779\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}