New Delhi: Union Bank of India on Wednesday said it proposes to raise Rs 2900 crore through bonds in the next five months.
The board approved to raise up to Rs 2,900 crore of debt capital by March 31, 2017 by way of issue of Basel III-compliant Perpetual Debt Instruments (Additional Tier 1) or Basel III-compliant Tier 2 bonds, the state-owned bank said in a filing to stock exchanges.
The funds could be raised either in foreign currency or Indian rupee, it added.
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