Latest Markets Business BEEPS Earnings Personal Finance

Union Bank Raises $500 Million From Overseas Market

Union Bank of India has raised $500 million from foreign markets to support its overseas business growth.

PTI

File photo of Union Bank of India. (Source: Vijay Sartape/NDTV Profit)

State-owned Union Bank of India on Wednesday said it has raised $500 million (about Rs 4,200 crore) from foreign markets to fund overseas business growth.

The fund was arranged by Dubai International Financial Centre, Dubai Branch, Union Bank of India said in a regulatory filing.

A syndicated term loan of $500 million ($400 million and Green Shoe of USD 100 million) would be drawn in two tranches with tenure of 3 and 5 years.

The first tranche of $100 million was drawn on Wednesday, it said.

This is the maiden syndicated term loan raised by Union Bank of India at an overseas centre, it added.

Watch LIVE TV, Get Stock Market Updates, Top Business, IPO and Latest News on NDTV Profit. Feel free to Add NDTV Profit as trusted source on Google.
GET REGULAR UPDATES
Add us to your Preferences
Set as your preferred source on Google
Beeps Img

Cochin Shipyard, Mazagon Dock, Other Defence Stocks Buzzing In Trade

  • chevron-double-right Cochin Shipyard Ltd. shares rose nearly 5% in intraday trading on Monday
  • chevron-double-right Bharat Dynamics Ltd. increased nearly 2% to Rs 1,567.70 per share on Monday
  • chevron-double-right Paras Defence shares gained 3.62% to Rs 717.30 in intraday trading on Monday
More Beeps chevron-right

RECOMMENDED FOR YOU

India To Soon Surpass US In Metro Connectivity: Union Minister Khattar
timelogo Sep 12, 2025
Microsoft CEO-Backed Groww to Make Public Filing For India IPO
timelogo Sep 12, 2025
SpiceJet Board Approves Settlement Of Lease Obligations With Carlyle
timelogo Sep 09, 2025
Incidence Rate Entirely Normal Given Scale, Size Of Air India Group, Says CEO Campbell Wilson
timelogo Sep 07, 2025

POPULAR

1
Final Day! Airfloa Rail Technology IPO: Check GMP, Day 3 Subscription Status, Allotment Date And More
2
ITR Filing Due Date Extension Live: Last Day To File Returns — Check Quick Guide, Penalty, Mistakes To Avoid
3
August Trade Deficit Narrows To $26.5 Billion As Exports Held Firm Before Tariff Impact
4
Thomas Cook India Launches Forex App 'TC Pay' For Android, Apple Users
5
India-EU FTA Talks Enter Final Stretch, Major Issues Resolved