Canara Bank raises Rs 1000 cr via Tier II bond issue

Posted By: Religare
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Canara Bank raises Rs 1000 cr via Tier II bond issue
State-run Canara Bank announced on Thursday that the lender has raised Rs 1,000 crore via the issue of Tier-II bonds as it eyes to boost its capital resources to meet the Basel-III norms.

"With reference to the earlier announcement dated March 24, 2014, the Bank was coming out with the issuance of Tier-II Bonds (Series - II) for Rs. 1000 Crore to augment capital resources, Canara Bank has now informed BSE that the Issue was opened and closed on March 27, 2014. The Bank has successfully raised Rs. 1000 Crore under BASEL-III Complaint Tier-II Bonds (Series-II)", Canara Bank said in a filing to the Bombay Stock Exchange (BSE).

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