UBI raises Rs 500 cr via bond issue

United Bank of India on Tuesday said that it has raised Rs 500 crore Tier-II bonds complying with Basel-III guidelines.

The issue was entirely subscribed by the Life Insurance Corporation.

The non-convertible bonds have a tenure of 10 years and can be traded in the wholesale debt market segment of the BSE, a release issued by UBI said.

Source: thehindubusinessline