Canara Bank on Thursday (March 13, 2025) stated it was proposing to raise up to ₹4,000 crore through Basel III–compliant Tier II Bonds.
According to an announcement from the financial institution, the bond is rated AAA/Stable by CRISIL and CARE and could have a tenor of 10-years with 5 yr name possibility.
The Board of Directors of the financial institution had authorised to raise Capital by means of Basel III Compliant Additional Tier I Bonds of ₹4,000 crore and Tier II Bonds of ₹4,500 crore throughout FY 2024-25.
The financial institution had already raised Tier 1 bonds of ₹3,000 crore within the month of August 2024.
The bidding for the above Tier II bonds of Canara Bank will likely be held on March 17, 2025 through NSE Electronic Bidding Platform (EBP).
Published – March 13, 2025 05:12 pm IST
