New Issue: India’s Canara Bank sells Rs. 1.64 billion 8½% subordinated bonds

By Cady Vishniac

Detroit, Dec. 31 – Canara Bank sold Rs. 1.64 billion of 8½% subordinated non-convertible perpetual taxable Basel 3-compliant tier 1, series III bonds, according to a notice.

The issue opened and closed on Dec. 29, and was allotted on Dec. 31 to 26 allottees, according to the notice.

The lender is based in Bangalore, India.

Issuer:	Canara Bank
Issue:	Subordinated nonconvertible perpetual taxable Basel 3-compliant tier 1, series III bonds
Amount:	Rs. 1,635,000,000
Maturity:	Perpetual
Coupon:	8½%
Pricing date:	Dec.29
Allotment date:	Dec. 31

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