Canara Bank raises Rs 3,000 cr via Tier I Bonds

New Delhi, Aug 29 (PTI) State-owned Canara Bank on Thursday said it has raised Rs 3,000 crore via Tier I Bonds to fund business growth.

The bank has raised Rs 3,000 crore non-convertible, taxable, perpetual, subordinated, fully paid up, unsecured Basel III compliant additional Tier 1 Bonds 2024-25 Series I of face value Rs 1 crore, Canara Bank said in a regulatory filing.

The bonds carry a coupon rate of 8.27 per cent paid annually on August 29 every year, it said.

These bonds are proposed to be listed on the National Stock Exchange of India, it added. PTI DP BAL BAL