large scale image
LCP Image

Back to TSCFM News

Union Bank of India to issue AT 1 bonds

December 22, 2022

Union Bank of India to issue AT 1 bonds
Union Bank of India has considered issuing Basel III Compliant AT 1 Bonds of ₹200 crore and green shoe option to retain over subscription upto ₹580 crore with aggregating to ₹780 crore on private placement basis.

Instruments includes unsecured, subordinated, taxable, non-convertible, perpetual, fully paid-up Basel III Compliant Additional Tier-1 Bond in the nature of debentures eligible for inclusion in Additional Tier 1 Capital (Bonds).

Debentures are issued with coupon rate of 8.40% per annum, payment of Interest will be annually and face value is ₹1 crore per bond.

Debt securities will be listed on National Stock Exchange and date of allotment will be 23 December 2022.

Credit rating for debentures by CRISIL Ratings is “CRISIL AA /Stable” and “IND AA/Stable” by India Rating & Research.

Union Bank of India is engaged in the business of treasury operations, corporate and wholesale banking, retail banking operations and other banking operations. The bank’s standalone net profit jumped 21.1% to ₹1,847.70 crore on 11% rise in total income to ₹22,957.95 crore in Q2 FY23 over Q2 FY22.

Shares of Union Bank of India declined 4.55% to Rs 77.65 on the BSE.

Important Links:
Tags:
BankBondBSE

Recommended for you ...

Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services
Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services

February 12, 2024

Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices
Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices

February 12, 2024

Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices
Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices

February 12, 2024

Enquire Now
REQUEST A CALLBACK
Chat on WhatsApp