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UNION BANK OF INDIA - Updates
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03 May 2017
Further to our letter no. ISD/17-18/29 dated 28th April, 2017, wherein the information about approvals from Board of Directors regarding raising of capital by way of Core Equity Capital and / or Additional Tier 1 (AT1) Bonds and / or Tier 2 Bonds during the year 2017-18 was submitted, we hereby inform that the Bank has issued 5,000 Non-Convertible, Unsecured Subordinated Basel III Compliant Perpetual Debt Instruments eligible for inclusion in Additional Tier 1 Capital on 3rd May, 2017. The Bond is issued for face value of Rs. 10,00,000/- each at par aggregating to Rs. 500 crore on private placement basis bearing 9.08% p.a. coupon payable annually. The AT1 Bonds are rated &apos;BWR AA+/Stable&apos; by Brickwork Rating India Pvt. Ltd&apos; (Brickwork) and IND AA/Stable&apos; by India Ratings and Research Private Limited (&apos;India Ratings&apos;). Details of the issue are given in the attachment.
View all announcements for UNION BANK OF INDIA Source: BSE India