Canara Bank raises ₹3,500 crore through AT1 bond issue

Oicharts Desk |

Canara Bank has successfully raised ₹3,500 crore through a Basel III-compliant Additional Tier-1 (AT1) bond issue. The bonds, issued at a coupon rate of 7.55%, aim to strengthen the bank's capital base and enhance financial resilience.

• The bond issue included 3,500 bonds with a face value of ₹1 crore each.

• The funds will support the bank's capital adequacy under Basel III norms, potentially improving investor confidence.

📊 STOCKS MENTIONED: $CANBK 🏢 SECTORS: Banking