Canara Bank’s Rs 1,500-cr bond issue

Canara Bank has decided to raise an additional Rs.1,500 crore through Tier I bonds. In a notice to the BSE on Monday, the bank said it plans to raise the amount through the issue of Basel-III complaint additional Tier-I perpetual bonds by way of private placement. The bank received ‘IND AA’ rating from India Ratings & Research and ‘AA Hybrid with Stable Outlook’ from ICRA for the proposed issue. Canara Bank shares ended 2.63 per cent higher at Rs.454.75 on the BSE on Monday. The bank will announce its third quarter results on Wednesday.


Source : Thehindubusinessline