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

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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.

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