Canara Bank raises INR 4,000 crore through tier II bonds

Canara Bank announced today, March 18, 2025, the successful raising of ₹4,000 crore through Tier II bonds. These bonds, with ISIN INE476A08258, carry a coupon rate of 7.46% and are unsecured, subordinated, listed, rated, non-convertible, redeemable, fully-paid-up, and taxable. The issue opened and closed on March 17, 2025, with allotment scheduled for March 18, 2025. The bonds are Basel III compliant and will be listed on the NSE. The redemption date is set for March 18, 2035, with a call option available at the end of every five years or every anniversary thereafter. Interest will be paid annually on March 18th each year. The bank allotted these bonds to 21 allottees. The funds raised will support Canara Bank's capital base and general business operations.