Canara Bank raises ₹1,500 crore
The Hindu
Overwhelming response from investors to issue of bonds
Canara Bank has raised ₹1,500 crore in Basel III-compliant Additional Tier 1 (AT1) bonds at a coupon rate of 8.40% per annum. This was the first AT1 bond issuance by the bank post the new SEBI regulations.
The issue received overwhelming response from investors, with bids for more than ₹3,400 crore against a base issue size of ₹500 crore. Based on the response, the bank has decided to accept ₹1,500 crore at a coupon rate of 8.40% per annum, according to a statement from the bank on October 25.
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