Canara Bank raises $500 mn via medium term notes

NEW DELHI: State-owned Canara Bank today said it has raised $500 million through bonds under the $2 billion Medium Term Note (MTN) programme.

It said in a regulatory filing that it "...has informed BSE that the Bank has raised $500 million through issue of Senior Unsecured Bonds under the $2 Billion Medium Term Note (MTN) Programme".

Canara Bank said the amount was raised through the bank's London branch. The coupon rate for the bonds issued is 5.25 per cent per annum.

The tenure of the Bonds is five years. These bonds are listed on Singapore Stock Exchange, it added.

MTN debt notes usually mature in 5-10 years. They can be issued on a fixed or floating coupon basis.

Shares on Canara Bank traded at Rs 241.85 apiece on the BSE in afternoon trading, up 2.05 per cent from the previous close.