Canara Bank raises Rs 5,000-cr

Bengaluru: The Canara Bank has in its maiden issuance of Long Term Infrastructure Bonds raised Rs 5,000 crore at a coupon rate of 7.54 per cent per annum.

“The issue received overwhelming response from investors, with bids for more than Rs 14,180 crore against a base issue size of Rs 1,000 crore and green shoe option of Rs 4,000 crore,” it said in a statement. The Bank’s Long Term Infrastructure Bonds are rated as “AAA/Stable” by CARE Ratings Limited and India Ratings & Research Ltd, it was stated.