UCO Bank has raised Rs 500 crore through Private Placement of BASEL III compliant additional Tier I Bonds (Series I). The Bank has issued 9.50% Unsecured, Subordinated, Perpetual, Non-convertible fully paid up, Taxable, Basel III compliant additional Tier I Bonds in the nature of Debenture. The said bond will be listed on the WDM segment of NSE.
Earlier, the bank had received an approval for raising Tier I Capital aggregating upto Rs 1000 crore in the form of Additional Tier I Bonds in one or more tranches upto FY24 i.e. till March 31, 2024. The Board of Directors of the Bank at its meeting held on January 3, 2022 had approved the same.
UCO Bank is a commercial bank and a Government of India Undertaking. The Bank offers wide range of services includes Personal Banking, Corporate Banking, International Banking, Rural Banking and other services.
