India New Issue-Canara Bank to issue perpetual bonds, bankers say
India New Issue-Canara Bank to issue perpetual bonds, bankers say MUMBAI, Sept 11 (Reuters) - India's Canara Bank CNBK.NS plans to raise 45 billion rupees ($470.17 million), which includes a greenshoe option of 25 billion rupees through the sale of perpetual bonds, three bankers said on Friday.
The state-run lender has invited coupon and commitment bids from bankers and investors on Wednesday, they said.
The lender did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on September 11:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | perpetual | To be decided | 20+25 | September 16 | AA+ (Crisil, Icra) |
Sammaan Capital | 3 years | 9.05 | 5 | September 10 | AA+ (Crisil, Icra) |
Sammaan Capital | 5 years | 9.10 | 2.75 | September 10 | AA+ (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 95.7100 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Janane Venkatraman)
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