Business Daily from THE HINDU group of publications
Tuesday, Jun 16, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

 Money & Banking - Public Sector Banks
Union Bank raises Rs 200 cr Tier-I capital

Our Bureau

Mumbai, June 15 Union Bank of India has raised Rs 200 crore Tier-I capital through subordinated perpetual bonds. The issue opened on June 8 and closed on June 13, said a bank press release.

The bonds are rated ‘BWR AAA’ by Brickwork and ‘AA+/Stable’ by CRISIL.

The bonds carry a coupon of 8.85 per cent a year, payable annually. They have a call option after 10 years from the date of issue. If the call option is not exercised, the bonds have a step-up coupon of 0.5 per cent/year.

The allotment of the bonds will be completed on June 16, the deemed date of allotment, the release said.

More Stories on : Public Sector Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Rupee weakens against $

Sops for lending
Investor appetite for mutual funds’ stake likely to revive
Nomura agrees to buy 30.5% stake in LIC MF
Tata Motors, Bank of India tie up
Rise in car sales augurs well for Kotak Mahindra Prime
Private non-life insurers report negative growth
Allahabad Bank may raise Rs 1,000 cr this fiscal
Union Bank raises Rs 200 cr Tier-I capital
APSFC aims for Rs 800-cr disbursement
Bond prices rise marginally
Call rate steady
Chakrabarty takes charge as RBI Deputy Governor
IDBI Gilts appointment


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line