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

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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.




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