RBC Announces $1.5 Billion NVCC Subordinated Debenture Issue

Royal Bank of Canada has announced an offering of $1.5 billion in non-viability contingent capital (NVCC) subordinated debentures through its Canadian Medium Term Note Program.

The bank will issue NVCC subordinated debentures, also known as the Notes, under its existing Canadian Medium Term Note Program. The total amount raised from this offering is $1.5 billion.

The notes are not for distribution to U.S. newswire services or for dissemination in the United States, according to the announcement.