Canara Bank has successfully concluded its bid for Basel III compliant Additional Tier 1 bonds on the EBP platform of NSE. The issuance garnered bids totaling 111, with a total issue size of Rs. 2,042 crore. The bonds are unsecured, subordinated, non-convertible, perpetual, and taxable, with a face value of Rs 1 crore each. The issue opened and closed on September 16, 2026, with a deemed date of allotment on September 18, 2026.
Canara Bank Successfully Issues Additional Tier 1 Bonds
Canara Bank has announced the successful completion of its bidding process for Basel III compliant Additional Tier 1 bonds. The bidding was conducted today, September 16, 2026, on the EBP platform of the National Stock Exchange (NSE).
Key Details of the Bond Issuance
The issued bonds are classified as Unsecured, Subordinated, Listed, Rated, Non-Convertible, Perpetual, Fully-paid-up, Taxable, Basel III Compliant Additional Tier I Bonds. These bonds are in the nature of debentures with a face value of Rs 1 crore each.
The total issue size amounted to Rs. 2,042 crore, comprising a base issue size of Rs. 2000 crore and a Green Shoe option of Rs. 42 crore. A total of 2,042 bonds were issued. The bidding process saw a total of 111 bids.
Timeline and Allotment
The issue opened on September 16, 2026, and closed on the same day. The deemed date of allotment and pay-in date is scheduled for September 18, 2026. The bonds carry a coupon rate of 8.10%.
The tenor of the bonds is Perpetual, with a call option available on September 18, 2031, or any anniversary date thereafter. The bonds are proposed to be listed on NSE.
Source: BSE
