In order to finance its global business expansion, Canara Bank would issue bonds worth $1 billion from the international market.
The company would start the process of the bond issue by holding roadshows in Singapore, Hong Kong and London between May 27 and May 31.
The state-run bank would use the fund for growth of its overseas business, which is presently spread across London, Leicester, Shanghai, Manama and Hong Kong.
The bank plans to open branches at 9 nine overseas destinations and it has received licence for opening a branch at Johannesburg in South Africa.
Apart from South Africa, the bank plans to open offices in Sao Paulo (Brazil), Dar-es-Salaam (Tanzania), Tokyo (Japan), Abuja (Nigeria), Jeddah (Saudi Arabia), Qatar Financial Centre (Qatar), Frankfurt (Germany) and New York (the USA) by March 2015.
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