Canara Bank to raise up to Rs 8,500 Cr via AT1 and Tier II bonds in FY27
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Canara Bank's board approved a capital raising plan of up to Rs 8,500 crore for FY 2026-27 through debt instruments. The plan includes Rs 4,500 crore via Basel III compliant Additional Tier I (AT1) bonds and Rs 4,000 crore via Basel III compliant Tier II bonds. The fundraising is subject to market conditions and necessary regulatory approvals. AT1 bonds are perpetual hybrid instruments that carry higher coupons, while Tier II bonds have a fixed maturity. Proceeds will be used to strengthen the bank's capital adequacy ratio and support growth.
Boosts capital adequacy; AT1 bonds carry higher coupon and write-down or conversion risk for investors.