Through issue of Tier - I Perpetual Bonds
Canara Bank announced that the Board of the Bank, in their meeting held on 30 September 2014, accorded permission to raise additional Tier - I instruments amounting to Rs. 1500 crore through issue of Basel III complaint additional Tier - I Perpetual Bonds by way of Private Placement, to support the asset growth during 2014-15 and maintain comfortable level of CRAR.Further, the Board has permitted to constitute a Bond Committee to determine the structure of the issue size, tenor, coupon, timing of the issue and to decide on the other connected matters.
Accordingly, the Bank is taking the necessary steps in this regard.
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