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| Exchange Disseminated Time 23/09/2016 18:37:30 | Canara Bank has informed BSE that the Board of Directors of the Company at its meeting held on September 23, 2016, has discussed the Agenda Item as mentioned in the cited letter and permitted the Bank to :
- Raise additional equity share capital of an amount not exceeding Rs. 1128 Core, including premium by way of Rights Issue with GOI contribution of Rs. 748 Crore and Rs. 380 Crore from Public Shareholders;
- Constitute a Rights Issue Committee of the Board of Directors to decide and permit on terms, timing, pricing and other modalities of the Rights Issue;
Further, the Board has also discussed on the issue of Medium Term Note (MTN) Programme and decided to :
- Issue Senior Unsecured Bonds in Foreign Currency in the range of USD 500 Mn in the International Market under the USD 2 Billion Medium Term Note (MTN) Programme of the Bank for the purpose of providing funds to the Overseas Branches of the Bank (the Bank has so far raised USD 1100 Mn under this Programme); and
- form a Committee to decide the quantum, timing, tenor, pricing, costs etc., |
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