Canara Bank raises $500 mn via medium term notes

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 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% from the previous close.