United Bank to raise up to Rs 200 cr via bonds

United Bank of India today said it will issue Basel-III compliant non-convertible bonds to raise up to Rs 200 crore.
"The bank proposes to issue and allot through private placement rated, unsecured, non-convertible, perpetual, listed Basel-III compliant additional tier-1 bonds of face value of Rs 10 lakh per bond aggregating up to Rs 200 crore," it said in a BSE filing.
The company said the bond issue includes over subscription also.
The issue is proposed to open on September 23 and close on September 28, it added.
United Bank's shares closed at Rs 21.90 on BSE, up 3.06 per cent from previous close.