Latest News | Canara Bank Raises Rs 1,500 Cr Through Bonds

New Delhi, Oct 25 (PTI) State-owned Canara Bank on Monday said it has raised Rs 1,500 crore by issuing Basel-III compliant bonds.

The bank has issued and allotted Basel-III compliant additional tier I bonds amounting to Rs 1,500 crore, Canara Bank said in a regulatory filing.

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The bank said as many as 16 allottees have been issued the non-convertible, perpetual, taxable, subordinated bonds bearing a coupon of 8.40 per cent, it said.

Stock of Canara Bank closed 1.71 per cent up at Rs 201.95 on BSE.

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(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)