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Canara Bank issues Basel III Tier I Bonds Series I for ₹3,500 Crore

Canara Bank has raised ₹3,500 Crore through Basel III Compliant Tier I Bonds, Series I. These are unsecured, subordinated, listed, rated, non-convertible, perpetual, fully-paid-up, taxable Additional Tier I Bonds in the nature of Debentures. The bonds have a face value of ₹1 Crore each and carry a coupon rate of 7.55%. Interest will be paid annually on December 2nd. The bonds are proposed to be listed on the NSE.