CANARA BANK - Raising additional Tier I Capital instruments in rupee terms

Canara Bank has informed BSE that the Board of the Bank, in their meeting held on September 30, 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.<br/><br/>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.<br/><br/>Accordingly, the Bank is taking the necessary steps in this regard.