Canara Bank to raise Additional Tier - I Bonds amounting to Rs. 1500 Crore

As per the powers delegated by the Board of Canara Bank, the Bond Committee, during the course of its meeting held on February 02, 2015, decided 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.

The Bank received ratings of "IND AA" from M/s India Ratings & Research Private Limited & '[ICRA] AA (hyb)' (Pronounced ICRA Double A Hybrid with Stable Outlook) from ICRA Limited for the proposed issue of the said Bonds.

Accordingly, the Bank is taking the necessary steps in this regard.

Shares of CANARA BANK was last trading in BSE at Rs.453.05 as compared to the previous close of Rs. 438.8. The total number of shares traded during the day was 1151374 in over 36913 trades.

The stock hit an intraday high of Rs. 459 and intraday low of 421.3. The net turnover during the day was Rs. 511209351.

Source : Equity Bulls

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