New Issue: India's Canara Bank sells Rs. 7 billion in 9% tier II bonds due 2018

By Devika Patel

Knoxville, Tenn., Jan. 3 - Canara Bank informed the Bombay Stock Exchange it plans to sell Rs. 7 billion of 10-year tier II bonds.

The bonds will have a 9% coupon and be rated AAA by ICRA.

Canara Bank is a commercial and consumer bank based in Bangalore, India.

Issuer:	Canara Bank
Amount:	Rs. 7 billion
Issue:	Redeemable unsecured tier II bonds
Maturity:	2018
Coupon:	9%
Pricing date:	Jan. 3
Opening date:	Jan. 7
Settlement date:	Jan. 9
Rating:	ICRA: AAA

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