India New Issue-Canara Bank to issue tier II bonds, bankers say

Canara Bank

12/03/2025 07:56

MUMBAI, March 12 (Reuters) - India's Canara Bank CNBK.NS plans to raise 40 billion rupees ($458 million), including a greenshoe option of 30 billion rupees, through sale of Basel III compliant tier II bonds maturing in 10 years, three merchant bankers said on Wednesday.

The state-run lender has invited coupon and commitment bids from bankers and investors on Monday, they said.

The bonds have a call option at the end of five years.

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

   Here is the list of deals reported so far on March 12

Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
Canara Bank
10 years
10+30
March 17
AAA (Crisil, Care)
NTPC
15 years
To be decided
7+33
March 18
AAA (Crisil, Icra, Care)
REC
3 years
To be decided
5+25
March 17
AAA (Crisil, Icra, Care)
REC
10 years
To be decided
5+25
March 17
AAA (Crisil, Icra, Care)

*Size includes base plus greenshoe for some issues

($1 = 87.2430 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala; Editing by Mrigank Dhaniwala)

 ((Dharamraj.dhutia@tr.com))