RBS replaces A$1.1 billion of sub debt in exchange offer [UPDATED]
- Wednesday, 29 February 2012
The completion of an exchange offer for subordinated debt issued by Royal Bank of Scotland (RBS) (A-/A3/A), but which the bank is prohibited from calling, has seen just under A$1.1 billion (US$1.2 billion) of domestic paper replaced with new RBS sub debt. The total outstanding in the four locally-issued tranches subject to the exchange offer in advance of its March 9 completion was A$1.9 billion.
