Union Bank raises Rs 2,000 cr via tier-II bonds

Union Bank of India said that it has raised additional capital of Rs 2,000 crore through the issue of unsecured redeemable non-convertible tier-II bonds.

The bonds carry a fixed coupon rate of 9.8 per cent per annum payable annually having a tenor of 10 years, the bank said in a statement.

At 3 p.m., the bank shares were trading at Rs 118.85, down 1.82 per cent on the BSE.

Source: thehindubusinessline