With reference to the earlier letter dated November 19, 2015, Canara Bank has now informed that the Board of the Bank has permitted the Bank to raise additional capital of Rs 2400 Crore through issue of BASEL-III compliant Tier II Bonds by way of Private Placement at a Coupon Rate as decided by the Bond Committee of the Bank to support the asset growth during 2015-16 & also to maintain healthy level of CRAR. The Bank received ratings of ‘IND AAA’; Outlook Stable from India Ratings & Research (a Fitch Group Company) for the proposed issue of the said Bonds.
The above information is a part of company’s filings submitted to BSE.
