United Bank of India has completed the allotment of Rs 500 crores BASEL-III compliant unsecured Tier-II Bonds of 10 years at a coupon rate of 8.75% per annum on Private Placement basis to Life Insurance Corporation of India. The issue has been rated AA+ by CRISIL and Brickwork. This is the first tier-II capital instrument issued in the domestic market under the Basel III capital regulations.
United Bank of India has emerged as a strong and efficient banking organization over the years and plays an integral role in the socio-economic development of the Eastern and North-Eastern States of the country.
