New Delhi, Feb 2 (PTI) State-owned Canara Bank on Tuesday said it has raised Rs 120 crore by issuing Basel III compliant bonds.

The bank has issued and allotted Basel III compliant additional tier I bonds amounting to Rs 120 crore, Canara Bank said in a regulatory filing.

The bank said it has allotted a total of 1,200 bonds to two subscribers.

The bonds carry an 8.30 per cent coupon rate.

The stock of Canara Bank closed 3.06 per cent higher at Rs 146.50 apiece on the BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)