Moneycontrol
Oct 17, 2016 12:19 PM IST IST | Source: Moneycontrol.com

Canara Bank, Bank of Baroda up 1% on fund raising plan

Bank of Baroda has initiated the process of raising funds through issuance of basel III compliant AT-I (additional tier-I capital) bonds, i.e. perpetual debt instrument, of Rs 1000 crore with green shoe option of Rs 1000 crore on private placement basis.

Moneycontrol Bureau

Shares of Canara Bank and Bank of Baroda gained 1 percent each on fund raising upto Rs 2500 and Rs 1000 crore, respectively.

Canara Bank has approved to raise additional tier-I capital funds through BASEL-III compliant additional tier-I perpetual bonds in rupee terms domestically for an amount not exceeding Rs 2500 crore in single tranche or in tranches depending on the market conditions to maintain healthy CRAR during the current financial year.

Bank of Baroda has initiated the process of raising funds through issuance of basel III compliant AT-I (additional tier-I capital) bonds, i.e. perpetual debt instrument, of Rs 1000 crore with green shoe option of Rs 1000 crore on private placement basis.

At 10:00 hrs Canara Bank was quoting at Rs 316.60, up Rs 3.30, or 1.05 percent, and Bank Of Baroda was quoting at Rs 155, up Rs 0.85, or 0.55 percent

Posted by Rakesh Patil
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