Canara Bank raises Rs 120 cr by issuing Basel III compliant bonds

State-owned Canara Bank on Tuesday said it has raised Rs 120 crore by issuing Basel III compliant bonds.

The bank has issued and allotted Basel III compliant additional tier I bonds amounting to Rs 120 crore, Canara Bank said in a regulatory filing.

The bank said it has allotted a total of 1,200 bonds to two subscribers.


The bonds carry an 8.30 per cent coupon rate.

The stock of Canara Bank closed 3.06 per cent higher at Rs 146.50 apiece on the BSE.