Canara Bank Raises Rs 5,000 Crore via 10-Year Tier-II Bonds at 7.24% Coupon

• Canara Bank successfully raised Rs 5,000 crore through a bond sale on Thursday.
• The Basel III-compliant Tier-II bonds, maturing in 10 years, were sold at a coupon rate of 7.24 percent.
• The issue included a base amount of Rs 2,000 crore, with the remaining raised via a greenshoe option.
• The bank received multiple bids, ultimately accepting bids at 7.24 percent to reach the Rs 5,000 crore upper limit.
• These bonds have a call option after 5 years and are rated 'AAA' with a 'Stable' outlook by Icra and India Ratings.