28th Mar 2014 10:03
LONDON (Alliance News) - Royal Bank of Scotland Group PLC Friday said it has completed the pricing of two sets of bonds that will raise about USD998.9 million before expenses, with the proceeds to be used for general corporate purposes.
The larger of the issues is a three-year USD700.0 million aggregate principal amount of 1.875% senior notes, while the second is a three-year USD300.0 million aggregate principal amount of Floating Rate Notes.
They are due due March 31, 2017.
The offering is scheduled to close on April 1, subject to the satisfaction of customary conditions.
The bailed-out bank has suffered six years of consecutive losses, amounting to more than GBP45.0 billion.
It is in the process of implementing a strategy to become a UK-focused retail bank.
RBS shares were Friday quoted at 309.60 pence, up 2.6%.
By Samuel Agini; [email protected]; @samuelagini
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