RBS to raise $2.2 billion through bond issue

Thu May 22, 2014 6:09am EDT
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LONDON (Reuters) - Royal Bank of Scotland RBS.L said on Thursday it would raise $2.2 billion through an offering of 10-year bonds which is scheduled to close on May 28.

The bank said the proceeds from the issue of the subordinated Tier 2 notes, which pay interest of 5.125 percent and mature in May 2024, would be used for general corporate purposes.

(Reporting by Matt Scuffham)

A logo at a Royal Bank of Scotland (RBS) branch is seen in the City of London March 6, 2013. REUTERS/Toby Melville