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Canara Bank, the public sector lender has raised Rs 3,000 crore through issuing Basel-III compliant tier-II bonds to boost capital base and fund growth.
Canara Bank has said in a BSE filing that “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.”
According to the bank 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 opening date of issue was on April 18, 2016 and closed on April 27, 2016.
