Canara Bank raises Rs600 cr via bonds issue

Canara Bank raises Rs600 cr via bonds issue

Mumbai: State-run lender Canara Bank has raised Rs600 crore by issuing bonds.

In a filing to the Bombay Stock Exchange, the bank said, “we have collected total issue amount of Rs600 crore under the said issue."

Last week the bank had said it would raise Rs400 crore by issuing non-convertible subordinate perpetual Tier-I bonds with an additional option to raise another Rs200 crore, if the issue is fully subscribed.

The bonds are with a coupon rate of 9.10% per annum for the first 10 years. The issue, which opened on 18 August, closed on 21 August, 2009.

Shares of Canara Bank were trading at Rs265.75, up 1.47% in the late afternoon trade on the BSE.