Canara Bank plans to raise Rs 4,500 crore through AT-1 bonds next week
Canara Bank plans to raise up to Rs 4,500 crore through Basel III-compliant AT-1 bonds next week at an expected 7.85%-7.90% coupon. The issue is part of its Rs 8,500 crore fiscal capital plan, with Tier 2 bonds planned later.
On Wednesday, Indian government bonds showed some fluctuations but still managed to outperform their global counterparts. Rising oil prices and increased concerns regarding supply chains pushed international bond yields higher. However, India's banking system's surplus liquidity helped stabilize local debt. Market participants are now closely monitoring upcoming inflation figures and central bankers' policy moves, with the Reserve Bank of India potentially using liquidity-reducing measures to keep the market in check.
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