-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 CmpV7zn472CzcFiIoARQiWx4vabJ52Ro9p1g5sFeG5zVCOnqcCRX5KbAyAbifaBr
 14PkhKTkvvDJuZuE8ZGOCw==

<SEC-DOCUMENT>0000853277-10-000005.txt : 20100316
<SEC-HEADER>0000853277-10-000005.hdr.sgml : 20100316
<ACCEPTANCE-DATETIME>20100316103233
ACCESSION NUMBER:		0000853277-10-000005
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20100316
DATE AS OF CHANGE:		20100316
EFFECTIVENESS DATE:		20100316

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Permal Canyon IO Ltd.
		CENTRAL INDEX KEY:			0001430244
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-116105
		FILM NUMBER:		10684040

	BUSINESS ADDRESS:	
		STREET 1:		C/O HARNEYS CORPORATE SERVICES LTD
		STREET 2:		P.O. BOX 71
		CITY:			ROAD TOWN
		STATE:			D8
		ZIP:			BVI
		BUSINESS PHONE:		011-599-9732-2233

	MAIL ADDRESS:	
		STREET 1:		C/O HARNEYS CORPORATE SERVICES LTD
		STREET 2:		P.O. BOX 71
		CITY:			ROAD TOWN
		STATE:			D8
		ZIP:			BVI

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PERMAL EDEN FUND LTD
		DATE OF NAME CHANGE:	20080319
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001430244</cik>
        <entityName>Permal Canyon IO Ltd.</entityName>
        <issuerAddress>
            <street1>C/O HARNEYS CORPORATE SERVICES LTD</street1>
            <street2>CRAIGMUIR CHAMBERS, PO BOX 71</street2>
            <city>ROAD TOWN</city>
            <stateOrCountry>D8</stateOrCountry>
            <zipCode>BVI</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>011-599-9732-2233</issuerPhoneNumber>
        <jurisdictionOfInc>VIRGIN ISLANDS, BRITISH</jurisdictionOfInc>
        <edgarPreviousNameList>
            <previousName>PERMAL EDEN FUND LTD</previousName>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>PRIVATE INVESTMENT FUND</entityTypeOtherDesc>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2007</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>SAINTCO</firstName>
                <lastName>LIMITED</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Permal Asset MAnagement</street1>
                <street2>900 Third Ave</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>DEBORAH</firstName>
                <lastName>WATSON</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Permal Asset Management</street1>
                <street2>900 Third Ave</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Over $100,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001430244-09-000004</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2007-05-18</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>258322188</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>approximate as of 12/31/09: $258,322,188</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>15</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>None in connection with US offering</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>5500</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>Directors of the fund are not paid.   Investment management fee payable to the fund's investment adviser varies greatly from year to year, depending on performance and total assets and is not listed here</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Permal Canyon IO Ltd.</issuerName>
                <signatureName>JOSEPH M. FUREY</signatureName>
                <nameOfSigner>Joseph M Fure</nameOfSigner>
                <signatureTitle>Director and Associate General Counsel</signatureTitle>
                <signatureDate>2010-03-16</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----