Union Bank of India raises Rs 140 cr via bonds

Union Bank of India has raised an additional capital of Rs 140 crore by issue of subordinated perpetual bonds, the bank informed stock exchanges.

The issue opened on March 19 and was closed on March 25, as against original closure date of March 26, 2009. The allotment of the bonds will be completed on March 30, 2009.

The bonds carry a coupon rate of 9.10 per cent per annum payable annually. The bonds are rated as "BWR AAA" by Brickwork and "AM+/Stable" by CRISIL, said Union Bank of India.