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UNION BANK RAISES RS.1000 CRORE THROUGH ISSUE OF BASEL III ADDITIONAL TIER I (AT1) BONDS

Posted By: Sachin Murdeshwar November 4, 2016

November 4, 2016 – Mumbai (GPN) : Union Bank of India has today issued 10,000 Non-Convertible, Unsecured Subordinated Basel III Compliant Perpetual Debt Instruments eligible for inclusion in Additional Tier 1 Capital. The Bond is issued for face value of Rs. 10,00,000/- each at par aggregating to Rs. 1,000 crore on private placement basis bearing 9.00% p.a. coupon payable annually. The AT1 Bonds are rated ‘IND AA by India Ratings and Research Private Limited (India Ratings) and CARE AA by Credit Analysis & Research Limited (CARE).

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.