Canara Bank to issue BASEL-III compliant Tier - II Bonds worth Rs. 2400 Crore

The Board of Canara Bank has permitted the Bank to raise additional capital of Rs. 2400 Crore through issue of BASEL-III compliant Tier II Bonds by way of Private Placement at a Coupon Rate as decided by the Bond Committee of the Bank to support the asset growth during 2015-16 & also to maintain healthy level of CRAR.

The Bank received ratings of "IND AAA"; Outlook Stable from M/s India Ratings & Research Private Limited (a Fitch Group Company) for the proposed issue of the said Bonds.

Shares of CANARA BANK was last trading in BSE at Rs.239.45 as compared to the previous close of Rs. 243.5. The total number of shares traded during the day was 186972 in over 1937 trades.

The stock hit an intraday high of Rs. 246.5 and intraday low of 238.1. The net turnover during the day was Rs. 45483829.

Source : Equity Bulls

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