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RBS launches tender offer to buy back 5.2 billion pounds worth of debt

Published 30/03/2016, 14:54
© Reuters. The City of London business district is seen through windows of the Royal Bank of Scotland headquarters in London
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LONDON (Reuters) - Royal Bank of Scotland (L:RBS) plans to buy back 5.2 billion pounds worth of debt to lower its interest payments as it shrinks its operations around the world.The buyback covers debt denominated in euros, pounds and dollars, the bank said in two statements on Wednesday. The deadline for accepting the offer will be April 6, the bank said.Chief Executive Ross McEwan has been selling off assets and cutting thousands of jobs to reduce expenses in a bid to boost earnings after eight straight annual losses.

© Reuters. The City of London business district is seen through windows of the Royal Bank of Scotland headquarters in London

(This version of the story was refiled to say Wednesday, not Tuesday, in paragraph two).

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