Yes Bank, Canara Bank raise Rs 1,500 crore each via bonds

NEW DELHI: State-run Canara Bank and private lender Yes Bank today announced raising Rs 1,500 crore each by issuing Basel III compliant tier-II bonds.

"Bank has successfully raised Rs 1,500 crore of Basel III compliant tier-II bonds. The issue was closed on December 31, 2015," Yes Bank said in a regulatory filing.

Canara Bank in a filing said the Bond Committee has decided to raise Basel III compliant tier-II bonds amounting to Rs 1,500 crore by way of private placement.

"Accordingly, the Bank has successfully raised Rs 1,500 crore under BASEL-III compliant Tier-II Bonds on December 31, 2015 with a coupon of 8.40 per cent per annum," Canara Bank said in the filing.

Shares of Yes Bank closed 1.02 per cent lower at Rs 726.15 apiece on BSE today. Canara Bank was also down 1.41 per cent at Rs 233.65 on BSE at close.