Public sector bank (PSB) Canra bank Basel III-Complaint has been decided to exercise the call option on Additional Tier-I Bond and Tier-II Bond. For this purpose, the PSU lender has also announced the record date, according to the exchange filing shared by the company on Monday, February 10.
Record date for Tier-I Bond
Canara Bank has decided to use the call option about additional Tier-I bonds on March 5, 2015, 9.55% unsafe, non-basle-III and pay interest and redemption amount. The bank is planning to use the call option on 5 March. , 2025. The company said that it has already received approval from the Reserve Bank of India (RBI).
For this purpose, the bank has determined Tuesday, 19 February as a record date for this purpose. Issue size for bonds 1,500 crores.
Record date for Tier-II bonds
Similarly, the bank has also decided to pay the 7.18% unsafe, subordinate, non-convertible basal-III issued on March 11, 2020 to pay the call option and interest and redemption amount in relation to Tier-II bonds.
PSU Bank has planned to use the call option on March 11 and the record date for the above purpose has been fixed on Monday, February 24. The issue for the said bond is size 3,000 crores.
The lender had informed the stock exchanges that he had decided to use the call option on two bonds on 31 January 2025.
“We want to inform that Reserve Bank of India Vid Letter Ref: Dor.cap.S6813/21-01-002/2024-25 Date 29 January 2025 allowed the bank to use the above bond and the call option. It is in an exchange filing, “The bank is in the process of using the call option on the fixed date, ie, March 05, 2025 and 11 March 2025.
Stock trade is 2% less
Amidst the weak market weakness, Canara Bank shares were trading 1.73% less on BSE at 2.15 pm. 92.42 episi.
During the day, stock hit the day’s high 94.40 and low 91.91.
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