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

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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