Hyderabad, 02 December 2021: Canara Bank has raised Rs1,500 crore in Basel III-Compliant Additional Tier 1 (AT1) bonds Series II, at a coupon rate of 8.05% per annum.
- The issue received overwhelming response from investors, with bids for more than Rs 4,699 crore against a base issue size of Rs 500 crore. Based on the response, the Bank has decided to accept Rs 1,500 crore at a coupon rate of 8.05% per annum.
- The AT1 instrument is perpetual in nature. However, it can be called back by the issuer after five years or any anniversary date thereafter.
- The Bank’s AT1 bonds are rated AA+ by CRISIL and India Ratings & Research Ltd.
- This is the Second AT1 bond issuance of the Bank post the new SEBI regulations, During October 2021 bank has raised Basel III Compliant Additional Tier I bonds of Rs 1500 Crore.
About Canara Bank: