Canara Bank Taps US$ 200M Senior Unsecured Notes Due 2029

Canara Bank has announced the tap issuance of US$ 200,000,000 in 4.896% senior unsecured notes due 2029. These notes will be consolidated with existing notes under its US$ 3 billion medium-term note program, issued through its IFSC Banking Unit. The proceeds will be used for general corporate purposes of the IFSC Banking Unit or other offshore branches, to meet funding requirements, and to develop and expand offshore businesses. The notes are expected to be rated Baa3/BBB- by Moody's/Fitch and will be listed on the Singapore Exchange Securities Trading Limited and India International Exchange (IFSC) Limited. The issuance has a tenure of approximately 3 years and 1 month, with allotment on July 22, 2026, and maturity on September 11, 2029. Interest will be paid semi-annually.