Preheat oven to 350°F. Grease a 9x13-inch baking dish with non-stick cooking spray.

Place bread and raisins in a large bowl. Add evaporated milk and let soak for 10 minutes.

In a separate bowl, whisk together sweetened condensed milk, eggs, cinnamon, and vanilla extract until well combined.

Add the egg mixture and melted butter to the bread mixture and stir well to combine.

Pour the mixture into the prepared baking dish and smooth out the top.

Bake for 45-50 minutes, or until the top is golden brown and a toothpick inserted in the center comes out clean.

Let cool for at least 10 minutes before serving.