Union Bank of India closes issue of Rs. 1250 crores

Union Bank of India has closed issuance of 7,500 & 5,000 Non-Convertible, Unsecured Subordinated Basel III Compliant Perpetual Debt Instruments eligible for inclusion in Additional Tier 1 Capital for face value of Rs. 10,00,000 at par each aggregating to Rs. 750 crore and Rs. 500 crore on private placement basis bearing coupon of 9.10% p.a. payable annually with pay-in date March 30, 2017 and March 31, 2017 respectively.

Shares of UNION BANK OF INDIA was last trading in BSE at Rs.156.05 as compared to the previous close of Rs. 155.4. The total number of shares traded during the day was 550181 in over 3669 trades.

The stock hit an intraday high of Rs. 158.25 and intraday low of 155.4. The net turnover during the day was Rs. 86179618.

Source : Equity Bulls

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