Union Bank of India Raises Rs. 1000 Crore through Issue of Basel III Additional Tier I (AT1) Bonds

Union Bank of India has informed BSE that the Bank has on September 15, 2016 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. 1000 crore on private placement basis bearing 9.50% 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").

Shares of UNION BANK OF INDIA was last trading in BSE at Rs.140.75 as compared to the previous close of Rs. 143.5. The total number of shares traded during the day was 649790 in over 5661 trades.

The stock hit an intraday high of Rs. 147.45 and intraday low of 140.15. The net turnover during the day was Rs. 93409247.

Source : Equity Bulls

Keywords