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Canara Bank to raise AT-1 capital funds

Capital Market 

Not exceeding Rs 2500 crore

announced that the majority of the Directors have taken note of the contents and the recommendations of the Bank in the Circular Note and consented to the following :

- To raise Additional Tier-I Capital Funds through BASEL-III Compliant Additional Tier-I Perpetual Bonds in Rupee Terms domestically for an amount not exceeding Rs. 2500 crore in single tranche or in tranches depending on the Market Conditions to maintain healthy CRAR during the current financial year;

- To constitute a Bond Committee to determine the structure of the Issue Size, tenor, coupon, timing of the Issue, date of allotment, listing and other matters connected to the said Issue.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 14 2016. 17:06 IST