Canara Bank Raises Rs 2,000 Crore Through Bonds
By Rediff Money Desk, NEWDELHI Feb 14, 2024 20:05
Canara Bank raised Rs 2,000 crore by issuing bonds to fund business growth. The bonds are non-convertible, taxable, and perpetual.
New Delhi, Feb 14 (PTI) State-owned Canara Bank on Wednesday said it has raised Rs 2,000 crore by issuing bonds to fund business growth.
The fund has been raised through non-convertible, taxable, perpetual, subordinated, fully paid up, unsecured Basel III compliant Additional Tier 1 bonds of face value Rs 1 crore each at a coupon of 8.40 per cent, Canara Bank said in a regulatory filing.
Additional Tier I bonds qualify as core capital or equity capital, and it is one of the means of raising capital by banks.
The fund has been raised through non-convertible, taxable, perpetual, subordinated, fully paid up, unsecured Basel III compliant Additional Tier 1 bonds of face value Rs 1 crore each at a coupon of 8.40 per cent, Canara Bank said in a regulatory filing.
Additional Tier I bonds qualify as core capital or equity capital, and it is one of the means of raising capital by banks.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 9.95 (+ 9.10)
- 180663529
- Thinkink Picturez
- 1.28 ( -4.48)
- 29715943
- Standard Capital
- 0.94 (+ 2.17)
- 15524697
- YES Bank Ltd.
- 18.89 (+ 3.45)
- 14286528
- G G Engineering
- 1.52 (+ 0.66)
- 14022065
MORE NEWS
Urja Mobility Launches B2C Battery Leasing for...
Urja Mobility launches its B2C battery leasing program for e-rickshaw drivers in 10...
IOB Q3 Profit Jumps 21% on Lower Bad Loans
Indian Overseas Bank (IOB) reported a 21% increase in net profit to Rs 874 crore for Q3...
Brightchamps Acquires Edjust: Expanding K12...
Brightchamps, a leading edtech platform, acquires Indian K12 marketplace Edjust,...