From CRISIL
Union Bank of India announced that :1. The Bank intends to raise capital funds through issuance of Tier 2 bonds. In this regard, CRISIL Ratings has assigned 'CRISIL AAA' rating with negative outlook to the Bank's proposed Basel III compliant Tier 2 bond issue of Rs. 1000 crore.
2. CRISIL has reaffirmed its ratings on other debt instruments i.e. Tier 1 Perpetual Bond Issue (Basel II), Tier 1 Bond Issue (Basel III) & Tier 2 (Basel II & III) at 'CRISIL AAA', 'CRISIL AA' & 'CRISIL AAA' respectively with negative outlook. CRISIL has also reaffirmed its rating on the Bank's Certificate of Deposits programme at CRISIL A1+.
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