RBS launches $2 billion self-led three-year senior notes offering

By Andrea Heisinger

New York, Sept. 11 - The Royal Bank of Scotland Group plc launched a $2 billion offering of three-year senior notes on Tuesday, a market source said.

The bonds launched at Treasuries plus 225 basis points in early afternoon in the New York session.

The notes (Baa1/A-/) will be non-callable.

The bonds were launched at the tight end of guidance in the 225 bps to 235 bps range.

RBS Securities Inc. is the bookrunner. Citigroup Global Markets Inc. and Wells Fargo Securities LLC are the senior co-managers.

Proceeds will be used for general corporate purposes, including managing the refinancing of forthcoming maturities of term debt issued by the RBS Group.

The financial services company is based in Edinburgh, Scotland.

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