Canara Bank plans to raise $500 million

Canara Bank is planning to raise long term foreign currency funds by issuing Senior Unsecured Bonds in the international markets to the extent of $500 million under its Medium Term Notes (MTN) Programme, depending on the market conditions. The proposed foreign currency funds raised through issue of Senior Unsecured Bonds (MTN) will be utilized for deploying in long term assets by the Bank’s foreign branches.

The Bank through its London branch, has scheduled a series of fixed-income investor meetings (Road shows/Investor Meet) in Singapore, Hong Kong and London on March 19, 2019 and March 20, 2019 for the aforesaid MTN programme.

Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.

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