Union Bank raises Rs 200 cr through bonds

Public sector lender Union Bank of India today raised additional capital to the tune of Rs 200 crore by issuing perpetual bonds.     

The bond carry a coupon rate of 11.15 per cent, which will be raised to 11.65 per cent if the call option is not exercised, Union Bank informed the Bombay Stock Exchange.     

Bonds have an option to redeem at par at the end of 10th year, it said.     

Shares of Union Bank of India were trading at Rs 153.25 down 1.67 per cent.