India New Issue-Canara Bank accepts bids for Tier II bonds, bankers say

Canara Bank

17/03/2025 08:53

MUMBAI, March 17 (Reuters) - India's Canara Bank CNBK.NS has accepted bids worth 40 billion rupees ($460.8 million) for Basel III compliant Tier II bonds maturing in 10 years, three bankers said on Monday.

It will pay an annual coupon of 7.46%, and had invited bids from bankers and investors earlier in the day, they said.

The company did not immediately reply to a Reuters email seeking comment.

 Here is the list of deals reported so far on March 17:

Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
Canara Bank
10 years
7.46%
40
March 17
AAA (Crisil, Care)
NABARD
3 years and 6 months
To be decided
20+50
March 19
AAA (Crisil, India rating)
REC
3 years
7.44
30
March 17
AAA (Crisil, Icra, Care)
REC
10 years
7.32
27.80
March 17
AAA (Crisil, Icra, Care)
Can Fin Homes
2 years and 2 months
8.20
15.1
March 17
AAA (Icra)
NIIF
7 years and 2 months
To be decided
2+5.5
March 18
AAA (Care, Icra
Tata Capital Oct 2027 reissue
2 years and 7 months
To be decided
2.50+7.50
March 18
AAA (Crisil, Icra)
Tata Capital
Oct 2028 reissue
3 years and 7 months
To be decided
1+5
March 18
AAA (Crisil, Icra)
Muthoot Finance
3 years
To be decided
6+9
March 17
AA+ (Crisil)
Hinduja Leyland Finance
10 years
To be decided
7
March 17
AA+ (Crisil)

*Size includes base plus greenshoe for some issues

($1 = 86.8000 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Varun H K
Editing by)

 ((Dharamraj.dhutia@tr.com))