Canara Bank raises Rs 1,500 cr through Basel-III compliant bonds

State-owned Canara Bank on Monday said it has raised Rs 1,500 crore by issuing Basel-III compliant bonds.

The bank has issued and allotted Basel-III compliant additional tier I bonds amounting to Rs 1,500 crore, Canara Bank said in a regulatory filing.

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The bank said as many as 16 allottees have been issued the non-convertible, perpetual, taxable, subordinated bonds bearing a coupon of 8.40 per cent, it said.

Stock of Canara Bank closed 1.71 per cent up at Rs 201.95 on BSE.