Union Bank Of India Raises Rs 1,000 Crore From Bonds
Pedestrians walk past a union bank of india Ltd. bank branch in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Union Bank Of India Raises Rs 1,000 Crore From Bonds

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State-owned Union Bank of India on Thursday said it has raised Rs 1,000 crore by issuing Basel III-compliant bonds on a private placement basis.

The bank has issued Basel III-compliant Perpetual Debt Instruments in the nature of debentures eligible for inclusion in Additional Tier 1 Capital to the tune of Rs 1,000 crore, according to a regulatory filing.

The coupon rate on the bonds is 8.64% per annum, payable annually.

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