United Bank of India has proposed to issue and allot through private placement rated, unsecured, non-convertible, perpetual, listed BASEL-III compliant Additional Tier-1 Bonds of Face Value of Rs 10.00 lakh per Bond aggregating up to Rs 200 crore including oversubscription. The issue is proposed to open on September 23, 2015 and close on September 28, 2015.
United Bank of India is one of the 14 major banks which were nationalized on July 19, 1969. After nationalization, the Bank expanded its branch network in a big way and actively participated in the developmental activities, particularly in the rural and semi-urban areas in conformity with the objectives of nationalization.
