Canara Bank has launched a Tap Issuance of 5 year Medium Term Note (MTN) Bonds (issued earlier on August 10, 2017) to the extent of $200 million, through its London branch on October 11, 2017 value October 17, 2017 maturing on August 10, 2022. It is priced at 5 year US Treasury plus 119 bps carrying a coupon of 3.25% fixed payable half yearly.
The Bonds are listed in Singapore Stock Exchange and the funds raised are utilized for deploying in long term assets by the Bank’s foreign branches.
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.
