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Report: Canara Bank to raise US$300M in bond issue

Canara Bank plans to raise US$300 million through an issuance of bonds, Business Standard reported Oct. 11, citing banking sources.

The bank has yet to finalize the size and pricing for the bond issuance, and it would depend on the market response.

Canara Bank will reportedly use the funds raised in the issuance for refinancing business and to repay maturing bonds, the publication reported.