United Bank of India plans to raise Rs 500 crore via Basel III compliant bonds

13 July 2017, 01:16 PM
United Bank of India - File Photo
United Bank of India - File Photo

Public lender United Bank of India is planning to raise up to Rs 500 crore through issuance of Basel III-compliant bonds on private placement basis.

"The board of directors of the bank approved issuance and allotment of unsecured Basel III compliant, listed, tier-2 bonds in the form of promissory note... with or without greenshoe option, aggregating up to Rs 500 crore on a private placement basis," the bank said in a regulatory filing.

The stock was trading at Rs 20, up 1.01 percent, from its previous close, on the BSE. 

First Published: Thursday, July 13, 2017 12:40 PM

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