Canara Bank proposes to raise up to Rs 4,000 cr from Tier II Bonds File/ PSUWatch
News Updates

Canara Bank proposes to raise up to Rs 4,000 cr from Tier II Bonds

Canara Bank on Thursday said it is proposing to raise up to Rs 4,000 crore through Basel III compliant Tier II Bonds

PTI

New Delhi: State-owned Canara Bank on Thursday said it is proposing to raise up to Rs 4,000 crore through Basel III compliant Tier II Bonds.

The bond will have a tenor of 10 years with 5-year call option, Canara Bank said in a statement.

PSU Watch is now on Whatsapp Channels. Click here to join

The bank's board had approved to raise capital by way of Basel III Compliant Additional Tier I Bonds of Rs 4,000 crore and Tier II Bonds of Rs 4,500 crore during 2024-25.

Of this, the bank had already raised Tier 1 bonds of Rs 3,000 crore in August 2024, it said.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

Also Read

Jindal Steel bags 50-year mining lease for Roida-I iron, manganese block in Odisha

After NMDC and MECON, SAIL opens office in Dubai to boost global presence

Markets inch higher in opening session; later turn flat amid volatile trends

BEML expands defence manufacturing with new units at KGF complex

EASE reforms supported PSU banks in advancing 'Viksit Bharat' vision: IBA Chief Executive