Canara Bank in its maiden issuance of Long Term Infrastructure Bonds has raised Rs. 5,000 crore, at a coupon rate of 7.54% 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.
The Bank’s Long Term Infrastructure Bonds are rated as “AAA/Stable” by CARE Ratings Limited and India Ratings & Research Ltd.