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Union Bank of India raised Rs 750 cr through bonds

The Union Bank of India has raised Rs 750 crore through issue of Basel III complaint bonds.

It has said in a regulatory filing that the bank has issued 7,500 non-convertible, unsecured subordinated Basel III complaint perpetual debt instruments for inclusion in additional tier-I capital.

It further said that the bond is issued for face value of Rs 10 lakh each at par aggregating to Rs 750 crore on private placement basis.

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