UBI raises capital through issuance of BASEL III compliant Tier 2 Bonds

NL Correspondent
Jammu Tawi: Union Bank of India raised capital through issuance of BASEL III compliant Tier 2 Bonds in two tranches of Rs
1500 crore & Rs 700 crore with different maturities of 15 years and 10 years respectively, which has received overwhelming
response from the investors.
Bank has raised the Bonds in two tranches at same time, which is unique in the industry and was oversubscribed by 8.63 &
13.48 times of base issue size of Rs 500 crore & Rs 200 crore respectively.
The capital raised of Rs 2200 crore through the Tier 2 bonds will support the business growth of the bank and also improve
the capital position of the bank.
The Bonds raised has credit ratings of AA+/Positive from CARE Ratings Limited & AA+/Stable from ICRA Limited.
We thank all the esteemed investors for the confidence shown in the brand Union Bank of India and its robust business
growth model.