Khaitan & Co advised Canara Bank, through its IFSC Banking Unit (“Bank”), on tap issuance of U.S.$200 million 4.896% senior unsecured notes due 2029 to be immediately fungible and form a single series with the existing 4.896% US$ 300 million senior unsecured notes due 2029, issued under Regulation S of the U.S. Securities Act, 1933. The Notes were issued under the Bank's existing U.S.$3 billion medium term note programme and are listed on both the India INX IFSC Limited and the Singapore Exchange (SGX). The Notes have been assigned with an investment-grade ratings of Baa3 from Moody's and BBB- from Fitch. The Hongkong and Shanghai Banking Corporation Ltd, Singapore Branch acted as the dealer.
The core team consisted of Manisha Shroff (Partner), Rajshekhar Upadhyaya (Principal Associate), Nikunj Mehta (Senior Associate) and Nandini Arya (Associate).