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Canara Bank raises Rs 1,012 cr by issuing Basel III compliant bonds

Canara Bank on Friday said it has raised Rs 1,012 crore by issuing Basel III compliant bonds

Topics
Canara Bank | Basel III | Banks

Press Trust of India  |  New Delhi 

A rickshaw puller passes the Canara Bank branch in the old quarters of Delhi. Photo: Reuters
A rickshaw puller passes the Canara Bank branch in the old quarters of Delhi. Photo: Reuters

on Friday said it has raised Rs 1,012 crore by issuing compliant bonds.

The bank has issued and allotted compliant additional tier I bonds amounting to Rs 1,012 crore, it said in a regulatory filing.

The bank said it has issued a total of 10,120 non-convertible, perpetual, taxable, subordinated, fully paid up, unsecured bonds carrying coupon rate of 8.30 per cent.

There were a total of three allottees to this bond issuance, said the state-owned lender.

Under the globally accepted Basel-III capital regulations, need to improve and strengthen their capital planning processes.

norms are being implemented in phases since 2013 by the Indian to mitigate concerns on potential stress on asset quality and consequential impact on performance and profitability of

The deadline for the domestic banks to meet these guidelines is September 30, 2020.

stock closed at Rs 100.85 on BSE, up 0.55 per cent from previous close.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, September 11 2020. 19:58 IST
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