Canara Bank Raises Rs. 5,000 Crores Through Basel III Compliant Tier II Bonds

Canara Bank has successfully raised Rs. 5,000 crores through the issuance of 7.24% Unsecured, Subordinated, Listed, Rated, Non-Convertible, Redeemable, Fully-paid-up, Taxable, Basel III Compliant Tier II Bonds in the nature of Debentures. The bonds, each with a face value of Rs. 1 crore, were issued with an issue size of Rs. 5,000 crore (Base: Rs. 2,000 crore + Green Shoe: Rs. 3,000 crore). The bonds were opened and closed for subscription on 26th February 2026, with the allotment date set for 27th February 2026. The bank has proposed to list these bonds on the NSE. The coupon rate for these bonds is 7.24%, with interest payable annually on 27th February until maturity or the call option date, whichever comes first. These bonds are unsecured.