Canara Bank to raise ₹5,000 cr. via bonds

Canara Bank on Tuesday announced plans to raise ₹5,000 crore in bonds to strengthen its capital base and support future growth plans.

According to a communique from the lender, the sale of Basel III-compliant tier 2 bonds is scheduled on February 26, on the Electronic Bidding Platform of the National Stock Exchange.

The bank was set to raise upto ₹5,000 crore through Basel III-compliant Tier 2 bonds, it said.

The proposed raise would comprise a base issue of ₹2,000 crore with a green shoe option of up to ₹3,000 crore, enabling the bank to respond flexibly to robust investor appetite, Canara Bank further said.