world is news

Union Bank of India raises Rs 1,000 cr from bonds

Spread the news

State-owned Union Bank of India on Thursday mentioned it has raised Rs 1,000 crore by issuing Basel III-compliant bonds on a non-public placement foundation.

The financial institution has issued Basel III-compliant Perpetual Debt Instruments within the nature of debentures eligible for inclusion in Additional Tier 1 Capital to the tune of Rs 1,000 crore, in line with a regulatory submitting.

The coupon charge on the bonds is 8.64 per cent each year, payable yearly.

Spread the news