Canara Bank, the public sector lender, announced that as per the powers delegated by the board of the bank, the bond committee had decided to raise basel III compliant tier -II bonds amounting to Rs 10 billion with an option to retain oversubscription, at the sole discretion of the bank for an amount up to Rs 20 billion on private placement basis.

The Issue was opened on April 18, 2016 and closed on this day i.e., April 27, 2016.

The bank has successfully raised Rs 30 billion under basel-III compliant tier-II bonds with a coupon of 8.40% p.a.

Shares of the company gained Rs 0.95, or 0.45%, to trade at Rs 212.90. The total volume of shares traded was 187,829 at the BSE (2.05 p.m., Thursday).