Canara Bank raises $350 mn

Canara Bank has raised $ 350 million through issuance of senior unsecured bonds under medium term note (MTN) programme through its London branch.

In a statement to the Bombay Stock Exchange, the bank said that fund raised was at a coupon rate of 5.125% per annum and the tenure of the bonds are 5 years and six months.

The bonds are listed on the Singapore Stock Exchange.

In the December quarter, the bank had posted a net profit of Rs 1105.73 crore compared with Rs 1,052.58 crore, a rise of 5%.

In the Mumbai market, the shares of Canara Bank were traded at Rs 610, down 1.41% at IST 1508.