RBT.PR.A to Mature on Schedule

R Split II Corp. has announced:

The Capital Shares and Preferred Shares will be redeemed by the Company on May 29, 2009 (the “Redemption Date”) in accordance with the redemption provisions of the shares. Pursuant to these provisions, the Preferred Shares will be redeemed at a price per share equal to the lesser of $30.50 and the Net Asset Value per Unit. The Capital Shares will be redeemed at a price for every share equal to the amount (for every two capital shares) by which the Net Asset Value per Unit exceeds $30.50.

A further press release will be issued by the Company in connection with the redemption prices on May 28, 2009. Payment of the amounts due to holders of Capital Shares and Preferred Shares will be made by the Company on May 29, 2009.

Given that asset coverage is currently 2.8+:1 there cannot be much doubt that maturity will be at par.

RBT.PR.A was last mentioned on PrefBlog with respect to last year’s partial call for redemption. RBT.PR.A is not tracked by HIMIPref™.

Update, 2009-06-01: Redemption completed.

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