Royal Bank of Canada announces increase to NVCC Preferred Share Issue

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TORONTO, Jan. 26, 2015 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced that as a result of strong investor demand for its previously announced domestic public offering of Non-Cumulative, 5-Year Rate Reset Preferred Shares Series BD, the size of the offering has been increased to 24 million shares. The gross proceeds of the offering will now be $600 million. The offering will be underwritten by a syndicate led by RBC Capital Markets. The expected closing date is January 30, 2015.

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.

The Preferred Shares Series BD have not been and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly in the United States or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S under the Securities Act) absent registration under the Securities Act or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation to buy securities in the United States or in any other jurisdiction where such offer or solicitation would be unlawful.

SOURCE RBC