Canara Bank raises $350 mn via bonds

Public-sector lender Canara Bank said it has raised USD 350 million (about Rs. 1,575 crore) through issuance of bonds.

"The Bank has raised USD 350 million through issue of senior unsecured bonds under medium-term note (MTN) programme through its London Branch," Canara Bank said in a filing to the Bombay Stock Exchange (BSE).

The interest rate for the bond is 5.125 per cent per annum and is for a period of 5.5 years, it said.

It further said the bonds are listed on the Singapore Stock Exchange.

Shares of Canara Bank ended at Rs. 610.30 on the BSE, down 1.36 per cent from its previous close.

Source: Financial Express