Union Bank raises Rs 800 cr through Tier II bonds
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 and "CARE AAA" by CARE.
The 10-year bonds carry fixed coupon rate of 8.90pc per annum payable annually.