Bengaluru, 11 Dec 2023: Canara Bank raised Rs. 1,403 crore through Basel III-Compliant Additional Tier 1 (AT1) bonds Series I, at a coupon rate of 8.40 % per annum. The AT1 instrument is perpetual in nature. However, it may be called back by the issuer after five years or any anniversary date thereafter subject to prior approval of the RBI. The Bank’s AT1 bonds are rated AA+/Stable by CRISIL Rating and ICRA Ltd.
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