State-owned
Union Bank of India on Tuesday said it has raised Rs500cr debt capital by issuing Basel III compliant bonds.
“The Bank has allotted Unsecured, Subordinated, Non-Convertible, Taxable, Perpetual, Fully Paid-Up Basel Ill Compliant Debt Instruments in the nature of Debentures eligible for inclusion in Additional Tier 1 Capital ("Bonds") Series XXVll aggregating to Rs500cr on December 15, 2020,” company said in a regulatory filing on Tuesday.
The bonds rated IND AA / Stable by Ind-Ra and BWR AA / Negative by Brickwork Rating India Pvt. Ltd were issued on private placement basis.
At around 10.04 am, Union Bank of India was trading at Rs33.40 per piece down by Rs0.1 or 0.3% from its previous closing of Rs33.50 per piece on the BSE.
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