Canara Bank has raised Rs 2,500 crore in Basel III-Compliant Tier II bonds, at a coupon rate of 7.09% per annum. The said Tier II bonds are issued with tenor of 15 years. However, it can be called back by the issuer after ten years or any anniversary date thereafter. The Bank's Tier II bonds are rated AAA by CARE Ratings and India Ratings & Research. This is the first Tier II bond issuance of the Bank for the financial year 2021-22. During Q3 2021 -22, Bank has raised Basel III Compliant Additional Tier I bonds of Rs. 3,000 crore.
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.
