From Earlier: City National Prices Subordinated Debt Offering

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City National Bank, a wholly owned subsidiary of City National Corporation
CYN
, yesterday priced an offering of $150 million of subordinated debt securities. The securities bear a fixed interest rate of 5.375 percent and will pay interest semi-annually. They will mature on July 15, 2022 and are not redeemable prior to that time. Proceeds from the securities will qualify as Tier 2 capital, and City National intends to use them for general corporate purposes, including to pay off and reduce short-term wholesale deposits and other borrowings.
Posted In: NewsOfferings
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