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| Exchange Disseminated Time 29/03/2016 12:48:39 | With reference to the earlier letter dated March 21, 2016 about the Board of the Bank has permitted the Bank to raise capital of Rs. 3000 Crore through issue of BASEL-III Compliant Tier II Bonds by way of Private Placement at a Coupon Rate as decided by the Bond Committee of the Bank to support the asset growth and maintain comfortable level of CRAR.
Canara Bank has now informed BSE that the Bank received ratings from the following Credit Rating Agencies for the proposed issue of the subject Bonds :
M/s ICRA Limited : has assigned the "[ICRA]AAA(hyb)" (pronounced ICRA Triple A hybrid) rating with Negative Outlook.
M/s CRISIL Limited : has assigned a "CRISIL AAA/Negative (pronounced "CRISIL Triple A rating with Negative outlook"). |
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