Union Bank of India has allotted Unsecured, Subordinated, Non-Convertible, Taxable, Fully Paid-Up Basel III Compliant Debt Instruments in the nature of Debentures eligible for inclusion in Tier 2 Capital ('Bonds') Series XXXI aggregating to Rs 1150 crore on July 9, 2021. The redemption date is set as July 9, 2036. The bonds with tenor of 15 years carry coupon rate of 7.25 per cent 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.
