Board of Canara Bank approves rights issue and bond issue under MTN programme

At meeting held on 23 September 2016

Canara Bank announced that the Board of Directors of the Bank at a meeting held on 23 September 2016 has permitted the Bank to :

- Raise additional equity share capital of an amount not exceeding Rs 1128 crore including premium by way of Rights Issue with GoI contribution of Rs 748 crore and Rs 380 crore from public shareholders;

Further, the board has also discussed on the issue of Medium Term Note (MTN) Programme and decide to :

- Issue Senior Unsecured Bonds in Foreign Currency in the range of USD 500 million in the International Market under the USD 2 Billion Medium Term Note (MTN) programme of the Bank for the purpose of providing funds to the overseas branches of the Bank (the Bank has so far raised USD 1100 million under this programme).

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