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Canara Bank said that it will be raising Rs 3,000 crore on a private placement basis through issuing Basel-III compliant tier-II bonds.
The bank has said in a BSE filing that “the Board of Directors of the company permitted the bank to raise capital of Rs 3,000 crore through issue of Basel-III compliant tier-II bonds by way of private placement”.
It further said that the coupon rate on the bonds will be decided by the Bond Committee of the bank to support the asset growth and maintain comfortable level of CRAR.
