Canara Bank, a leading nationalized bank, has decided to raise Rs 3,000 crore on a private placement basis by issuing Basel-III compliant tier-II bonds. The Board of Directors of the bank at its meeting held on March 21, 2016, has permitted to raise Capital of Rs 3000 crore through issue of BASEL-Ill 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 and maintain comfortable level of CRAR.
Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.
