General Announcement::Capital Requirement of the Bank - Outcome of the Board Meeting - 23.09.2016

Issuer & Securities

Issuer/ Manager
CANARA BANK
Securities
CANARABANKUS$250M6.365%N211128 - XS0276148847 - 7TSB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
23-Sep-2016 21:34:58
Status
New
Announcement Sub Title
Capital Requirement of the Bank - Outcome of the Board Meeting - 23.09.2016
Announcement Reference
SG160923OTHRJGHZ
Submitted By (Co./ Ind. Name)
B NAGESH BABU
Designation
ASSISTANT GENERAL MANAGER & COMPANY SECRETARY
Effective Date and Time of the event
23/09/2016 17:00:00
Description (Please provide a detailed description of the event in the box below)
This is to inform the Exchange that the Board of the Bank, during the course of their meeting on 23.09.2016, has discussed the Agenda Item as mentioned in the cited letter and permitted the Bank to :

- Raise additional equity share capital of an amount not exceeding Rs. 1128 Core, including premium by way of Rights Issue with GOI contribution of Rs. 748 Crore and Rs. 380 Crore from Public Shareholders;

- Constitute a Rights Issue Committee of the Board of Directors to decide and permit on terms, timing, pricing and other modalities of the Rights Issue;

Further, the Board has also discussed on the issue of Medium Term Note (MTN) Programme and decided to :

- Issue Senior Unsecured Bonds in Foreign Currency in the range of USD 500 Mn in the International Market under the USD 2 Billion Medium Term Note (MTN) Programme of the Bank for the purpose of providing funds to the Overseas Branches of the Bank (the Bank has so far raised USD 1100 Mn under this Programme); and

- form a Committee to decide the quantum, timing, tenor, pricing, costs etc.,

Attachments

CanaraOutcome23092016.pdf
Total size =213K