Union Bank of India is issuing Basel Ill compliant Perpetual Debt Instruments in the nature of Debentures eligible for inclusion in Additional Tier 1 Capital (Bonds) Series XXVlll of Rs 300 crore with Green Shoe Option up to Rs 700 crore (maximum Rs 1,000 crore) on private placement basis. The coupon on the bonds is fixed at 8.64 percent per annum.
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.
