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Canara Bank has raised Rs 1,000 crore through issue of Basel-III complaint bonds.
It has said in a regulatory filing that “The bank has raised an amount of Rs 1,000 crore as tranche-I on December 13, 2016 with a coupon of 8.60 percent per annum.”
The board of Canara Bank, in October, permitted for raising additional tier-I capital funds by issuing Basel-III compliant tier-I perpetual in rupee terms domestically for an amount not exceeding Rs 2,500 crore.
According to the bank, the capital is being raised for maintaining healthy CRAR during the current financial year.
