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Union Bank of India raises Rs 1,000 crore on private placement

05 Nov 2016 Evaluate

Union Bank of India has issued 10,000 Non-Convertible, Unsecured Subordinated Basel III Compliant Perpetual Debt Instruments eligible for inclusion in Additional Tier 1 Capital. The Bond is issued for face value of Rs 10 lakh each at par aggregating to Rs 1,000 crore on private placement basis bearing 9.00% per annum coupon payable annually. The AT1 Bonds are rated ‘AA’ by India Ratings and Research and ‘AA’ by Credit Analysis & Research (CARE).

Union Bank of India is one of the largest government-owned banks of India. The Bank offers products and services in three categories - Deposits, Loans and Advances, and Remittances & Collections. Its segments include treasury operations, corporate & wholesale banking, retail banking and other banking operations.



Peers
Company Name CMP
State Bank Of India 1018.00
PNB 126.30
Bank Of Baroda 250.00
Canara Bank 122.80
Union Bank Of India 186.75
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