Two Indian state-run lenders, Canara Bank and Bank of Maharashtra, are set to raise $500 million each through the sale of U.S. dollar-denominated bonds over the next few days, two merchant bankers said on Monday.
Both the lenders will look to raise funds through a sale of three-year or five-year papers, or a combination of both, under the central bank's concessional swap window, which lowers the cost of hedging the risk of unfavourable currency moves, the bankers added.
