State-owned Union Bank of India on Thursday said it has raised Rs 1,000 crore by issuing Basel III-compliant bonds on a private placement basis.
The bank has issued Basel III-compliant Perpetual Debt Instruments in the nature of debentures eligible for inclusion in Additional Tier 1 Capital to the tune of Rs 1,000 crore, according to a regulatory filing.
The coupon rate on the bonds is 8.64% per annum, payable annually.
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