Bond listing on Singapore Exchange
India’s state-owned Canara Bank has launched a US$400 million (Rs.2,750 crore) bond issuance programme through its London branch on 21 Mar 2019.
The bank said it has launched an issuance of 5-year senior unsecured bonds (Medium Term Notes) to the extent of US$400 million under Medium Term Note (MTN) programme.
The bonds’ value is date 28 March 2019, the bank said in a regulatory filing. The bonds, to be listed on Singapore Stock Exchange (SGX), are set to mature on March 28, 2024.
The funds raised will be for deploying in long-term assets by the bank’s foreign branches.
Canara Bank has priced the bonds at 5-year US Treasury plus 170 basis points carrying a coupon of 3.875 per cent fixed payable half yearly. fiinews.com
