Business Daily from THE HINDU group of publications
Saturday, September 2, 2006
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Business Daily from THE HINDU group of publications Saturday, September 2, 2006 |
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News Update as at 18.00 hrs (IST)
Banking & Finance MUMBAI: Canara Bank has informed the BSE that it has finalised to raise capital funds overseas through Medium Term Notes (MTN) programme. The bank would raise $100 million through hybrid capital tier I bonds and $200 million by way of upper tier II bond s in the first tranche and has appointed Citi Group Global Capital Market, HongKong and Shanghai Banking Corporation Ltd, ABN Amro Bank N.V. and UBS-AG as lead managers to the issue. The bank has also plans to raise funds through a combination of Upper Tier II bonds and hybrid capital bonds. The funds will be utilised for capital requirements and also for funding overseas expansion and operations.
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