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Union Bank of India to raise Rs 205 cr by issuing Basel III compliant bonds

State-owned Union Bank oFrom the issue size of Rs 200 crore with green shoe option up to Rs 30f India on Wednesday said it will raise Rs 205 crore by issuing Basel III compliant bonds later this week.

Topics
Union Bank of India | Bonds

Press Trust of India  |  New Delhi 

Union, Union Bank of India,
Union Bank of India. Photo: Reuters

State-owned on Wednesday said it will raise Rs 205 crore by issuing Basel III compliant later this week.

The bank is issuing Basel III compliant perpetual debt instruments in the nature of debentures on private placement basis, said in a regulatory filing.

From the issue size of Rs 200 crore with green shoe option up to Rs 300 crore, the bank said it has accepted bids of Rs 205 crore.

The coupon on the is fixed at 8.73 per cent per annum to be payable annually. The date of allotment of is January 29, 2021.

Perpetual bonds and those instruments that carry no maturity date and hence may be treated as equity, not as debt.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, January 27 2021. 22:51 IST
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