Canara Bank Raises Rs 3,000-Crore Basel-III Compliant Bonds

New Delhi, Apr 28 (PTI) Public sector lender Canara Bank has raised Rs 3,000 crore by issuing Basel-III compliant tier-II bonds to augment capital base and fund growth.

"The bank has successfully raised Rs 3,000 crore under Basel-III compliant tier-II bonds with a coupon of 8.40 per cent per annum," Canara Bank said in a BSE filing today.

Canara Bank Raises Rs 3,000-Crore Basel-III Compliant Bonds
Canara Bank: Quotes, News
BSE 327.50BSE Quote7.85 (2.40%)
NSE 327.30NSE Quote7.9 (2.41%)

The bank said its Bond Committee had decided to raise Basel-III compliant tier-II bonds amounting to Rs 1,000 crore with an option to retain over subscription, at the sole discretion of the bank for an amount up to Rs 2,000 crore on private placement basis.

The issue was opened on April 18, 2016 and closed on April 27, 2016. Earlier this month, Canara Bank had said it would come out with the issuance of bonds to augment capital resources.


Read more about: canara bank
Story first published: Thursday, April 28, 2016, 11:25 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?