Union Bank raises ₹3,000 crore via long-term bonds
after close1 source ↓written by the desknot a recommendation
- through long-term bonds
- ₹3,000 crore
- issuance was oversubscribed
- 3.12 times
- from Qualified Institutional
- ₹9,379.82 crore
- per annum
- 7.16%
Union Bank of India has successfully raised ₹3,000 crore through long-term bonds aimed at financing infrastructure and affordable housing projects. The issuance was oversubscribed 3.12 times, with bids totaling ₹9,379.82 crore from Qualified Institutional Buyers (QIBs). The bonds were accepted at a cut-off coupon rate of 7.16% per annum.
Not investment advice. For informational purposes only.