New York, March 25 - Canara Bank announced it priced Rs. 1.5 billion of perpetual tier I bonds with a 9% coupon for the first 10 years.
They are callable after 10 years and are rated BWR AAA+ by Brickwork and AAA (negative) by Crisil.
The offering has a greenshoe of unspecified size.
Proceeds will be used to augment the bank's capital.
Canara Bank is a commercial and consumer bank based in Bangalore, India.
| Issuer: | Canara Bank
|
| Amount: | Rs. 1.5 billion
|
| Issue: | Perpetual tier I bonds
|
| Maturity: | Perpetual
|
| Coupon: | 9% (for first 10 years)
|
| Call: | After 10 years
|
| Pricing date: | March 24
|
| Settlement date: | March 30
|
| Rating: | Brickwork: BWR AAA+
|
| Crisil: AAA (negative)
|
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