New Delhi: Canara Bank will raise additional capital worth Rs 1,500 crore through private placement of bonds. The issue will be in compliance with global capital adequacy norms, Basel-III.
Canara Bank said in a filing to the BSE, “The Bond Committee…Decided to raise additional tier-I instruments amounting to Rs 1,500 crore through issue of Basel-III complaint additional tier-I perpetual bonds by way of private placement.” India Ratings (Ind-Ra) has assigned the bond issue a low credit risk and high safety ‘IND AA’ rating, while ICRA assigned a stable outlook with [ICRA] AA (hyb) rating, it added.
The lender will present its third quarter earnings. The bank’s scrip closed 2.63 per cent up at Rs 454.75 on the BSE.
