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The Union Bank of India raised Rs 1,000 crore through issuing additional tier-I (AT1) bonds.
The bank has said in a BSE filing that “It has on September 15, 2016 issued 10,000 non-convertible, unsecured subordinated Basel III compliant perpetual debt instruments eligible for inclusion in additional tier 1 (AT1) capital.”
It further said that the bonds are issued for a face value of Rs 10 lakh each at par aggregating to Rs 1,000 crore on a private placement basis bearing 9.50 percent per annum coupon payable annually.
