Union Bank raises Rs 800 cr through Tier II bonds

Last Updated: Sat, Dec 29, 2012 09:16 hrs

Mumbai, Dec 29 (IBNS) State-run Union Bank of India has raised additional capital to the extent of Rs.800 Crore by issue of Unsecured Redeemable Non-Convertible Subordinated Lower Tier II Bonds.

The issue opened for subscription on Dec 24 and closed on Dec 28.

The Bonds are rated "AAA/Stable" by CRISIL & "CARE AAA" by CARE.

The 10-year bonds carry fixed coupon rate of 8.90% per annum payable annually.

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