Union Bank of India has raised $500 million (about Rs 4,200 crore) from foreign markets to fund overseas business growth. The fund was arranged by Dubai International Financial Centre (DIFC), Dubai Branch.
A syndicated term loan of $500 million ($400 million and Green Shoe of $100 million) would be drawn in two tranches with tenure of 3 and 5 years. The first tranche of $100 million was drawn on April 03, 2024.This is the maiden syndicated term loan raised by Union Bank of India at an overseas centre.
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.
