Canara Bank has raised ₹1,000 crore through an issuance of Basel III compliant Additional Tier I Bonds at 8.07 per cent coupon rate.
The Bengaluru-headquartered public sector bank received bids aggregating ₹3,133 crore, out of which full issuance of ₹1000 crore was accepted, per a regulatory filing.
The Bonds are non-convertible, perpetual, taxable, subordinated, fully paid-up, and unsecured. They have been allotted to 12 investors.
The issuance had a base issue size of ₹250 crore and green shoe option of 750 crore.
Though the bonds are perpetual in nature, they can be called back by the Bank after fifth anniversary from the deemed date of allotment or any anniversary date thereafter, Canara Bank said in a statement.
This is the third series of bond issuance of the Bank for the financial year 2021-22, it added.
Prior to the aforementioned series, Canara Bank had raised Basel III compliant Additional Tier I bonds of ₹4,000 crore and Tier II bonds of ₹2,500 crore
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