United Bank Of India Raises Rs 1,000 Crore From Bonds

New Delhi: State-owned Union Bank of India on Monday raised Rs 1,000 crore through bonds to fund business growth. The bank issued 10,000 Basel III-compliant Tier II bonds of face value Rs 10,00,000 each at par aggregating to Rs 1000 crore on private placement basis, Union Bank of India said in a regulatory filing on stock exchanges. The bonds bear 8 per cent coupon rate payable annually, it said. The bonds are issued for a period ...