RBS Issues Shares to Balance Effect of Coupon Payments on Capital Ratios
12 June 2015 - 4:16AM
Dow Jones News
LONDON--Royal Bank of Scotland Group PLC (RBS.LN) Thursday said
it issued 21.3 million shares at a subscription price of 352.8114
pence each and sold them in the market, raising gross proceeds of
GBP75 million ($116.2 million) and increasing the number of shares
in circulation by 0.3%.
"The shares being issued are for the purposes of partly
neutralizing the impact of 2015 coupon payments on discretionary
hybrid capital from a Core Tier 1 capital perspective," RBS
said.
The subscription price was determined by reference to the
average market price during a period since the company's first
quarter 2015 results on April 30, RBS said.
RBS shares closed up seven pence at 362 pence.
Write to Ed Ballard at ed.ballard@wsj.com
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