Union Bank of India has considered the issuance of Basel III Compliant Debt Instruments in the nature of Debentures eligible for inclusion in Additional Tier-1 Capital (Bonds) Series XXXIV of Rs 500 crore with Green Shoe Option up to Rs 1000 crore (maximum Rs 1500 crore) on Private Placement basis. It will allot the bonds on March 02, 2022. The bonds carry coupon rate of 8.50 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.
