UNION BANK OF INDIA

UNION BANK OF INDIA - Updates

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30 Mar 2017
Further to our letter no. ISD/16-17/350 dated November 4, 2016, wherein the information about approvals from Board of Directors regarding raising of capital by way of equity and/or AT 1 and /or Tier 2 capital during FY 2016-17 was submitted, we hereby inform that the Bank has issued 7,500 Non-Convertible, Unsecured Subordinated Basel III Compliant Perpetual Debt Instruments eligible for inclusion in Additional Tier 1 Capital on 30th March, 2017. The Bond is issued for face value of Rs. 10,00,000/- each at par aggregating to Rs. 750 crore on private placement basis bearing 9.10% p.a. coupon payable annually. The AT1 Bonds are rated 'BWR AA+/Stable' by Brickwork Rating India Pvt. Ltd' (Brickwork) and IND AA' by India Ratings and Research Private Limited ('India Ratings'). Details of the same are provided in the letter.
View all announcements for UNION BANK OF INDIA	Source: BSE India

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