Canara Bank bond issue nets ₹2,500 cr.

CanaraBank has raised ₹2,500 crore via Basel III-compliant Tier II bonds, at a coupon rate of 7.09%, the bank said on Friday.

The issue saw an overwhelming response from investors with bids received for more than ₹9,374 crore.

The base issue size was ₹1,000 crore with a green shoe option of ₹1,500 crore. The bonds, issued with a tenor of 15 years, can be called back by the issuer after 10 years or any anniversary date thereafter. In Q3 2021-22, the bank had raised Basel III-compliant additional tier I bonds worth ₹3,000 crore.

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