UPDATE 1-RBS nears end of road for AT1 debut

August 5, 2015 9:11 AM

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LONDON, Aug 5 (IFR) - Royal Bank of Scotland is close to issuing a debut Additional Tier 1 capital, one of the bank capital market's longest-awaited capital raisings, after it began actively marketing to investors on Wednesday morning.

The dollar-denominated transaction comprises two tranches: a perpetual non-call five-year and perp non-call 10 with investors being canvassed at the 7.75% area and 8.25% area respectively.

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