May 22, 2014 / 10:07 AM / 3 years ago

RBS to raise $2.2 billion through bond issue

LONDON, May 22 (Reuters) - Royal Bank of Scotland 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

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