Union Bank may give guidance on bond sale

Union Bank of India, a state-owned lender, plans to sell five and a half-year dollar bonds at a spread of about 315 basis points more than similar-maturity Treasuries, according to two people familiar with the matter.

The bonds would price within a range of five basis points either side of the guidance, the people said, asking not to be identified as details were private.

The lender might complete the sale of between $300 million and $500 million of bonds as soon as today, Managing Director Mavila Vishwanathan Nair said in a telephone interview. Barclays, Citigroup, Deutsche Bank AG, Standard Chartered and UBS AG are managing the sale.