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.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
