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Canara Bank to raise Rs 3000 crore through issue of bonds

07 Apr 2016 Evaluate

Canara Bank is planning to raise capital of Rs 3000 crore through issue of Basel III compliant Tier II Bonds by way of Private placement of a coupon rate as decided by the bond committee of the bank to support the asset growth and maintain comfortable level of CRAR. The board of bank has permitted for the same.

The Bank has received the rating of IND AAA / Outlook Stable for the proposed issue of the bonds from India Ratings & Research (A Fitch Group).

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.

Peers
Company Name CMP
State Bank Of India 959.00
PNB 112.00
Bank Of Baroda 232.35
Canara Bank 118.60
Union Bank Of India 168.10
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