Through private placement of AT-1 Perpetual Bonds
Canara Bank announced that as per the powers delegated by the Board of the bank, the Bond Committee, during the course of its meeting held on 02 February 2015, decided to raise Additional Tier- I instruments amounting to Rs. 1500 crore through issue of BASEL-III complaint Additional Tier-I Perpetual Bonds by way of Private Placement.The Bank received ratings of "IND AA" from India Ratings & Research Private & '[ICRA] AA (hyb)' (Pronounced ICRA Double A Hybrid with Stable Outlook) from ICRA for the proposed issue of the said Bonds.
Accordingly, the Bank is taking the necessary steps in this regard.
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