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Canara Bank to issue perpetual bonds
September 13, 2022
![Canara Bank to issue perpetual bonds](https://tscfm.org/wp-content/uploads/2022/09/Canara-bank-to-issue-perpetual-bonds-1024x768.png)
The state-run bank has invited coupon and commitment bids from bankers and investors on Wednesday, they said.
The notes are rated AA+ by India Ratings and ICRA, and the issue will close for subscription later this week.
The issue has a call option at end of five years and will also have a greenshoe option to retain an additional 15 billion rupees.
In August, the lender had raised 20 billion rupees through sale of Basel III-compliant Tier II bonds maturing in 10 years at an annual coupon of 7.48 per cent. This issue had a call option at end of five years.
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