BANKS
Canara Bank raises Rs 2,000 crore via bonds
Canara Bank has raised Rs 2,000 crore via bonds at a coupon of 8.4%; will be utilised to fund business growth.
Canara Bank has raised Rs 2,000 crore via bonds at a coupon of 8.4%; will be utilised to fund business growth.
Canara Bank has raised Rs 2,000 crore by issuing bonds to fund business growth.
The fund has been raised through non-convertible, taxable, perpetual, subordinated, fully paid up, unsecured Basel III compliant Additional Tier 1 bonds of face value Rs 1 crore each at a coupon of 8.40%, the state-run bank said in a regulatory filing.
Additional Tier I bonds qualify as core capital or equity capital, and it is one of the means of raising capital by banks.
