Breaking News

You are here » Indian-Commodity  :  Corporate  :  United Bank of India raises Rs 150 crore on private placement basis

28-Sep2017

United Bank of India raises Rs 150 crore on private placement basis

United Bank of India has issued and allotted BASEL III Compliant Tier 2 Bonds for Rs 150.00 crore on private placement basis. The bank has concluded on date the issue and allotment of 1500 units of Rated, Unsecured, Non-Convertible, Fully Paid-Up, Redeemable, Listed, Basel-III compliant Tier-2 debt instruments in the nature of Debentures of Face Value of Rs 10 lakh each for Cash at Par for Rs 150.00 crore on private placement basis.

The tenure of the Bonds is 10 years from the Deemed Date of Allotment. The Bonds are proposed to be listed on the wholesale Debt Segment of BSE.

United Bank of India is one of the 14 major banks which were nationalized on July 19, 1969. After nationalization, the Bank expanded its branch network in a big way and actively participated in the developmental activities, particularly in the rural and semi-urban areas in conformity with the objectives of nationalization.



Related News

View all news

IOC to infuse Rs 1,200 crore in CNG distribution in Burdwan

Indian Oil Corporation (IOC) is planning to infuse Rs 1,200 crore over the next 6-7 years to create infrastructure of laying LPG pipeline and installing CNG stations in the two Burdwan districts of West......

IOC discovers seven geographical areas in Tamil Nadu: Report

Indian Oil Corporation (IOC) has reportedly discovered seven geographical areas (GAs) in ten districts of Tamil Nadu. The company will invest nearly Rs 2,100 crore in coming five years, in a bid to employ......

Jumbo Finance gets shareholders' nod to increase borrowing limits up to Rs 30 crore

Jumbo Finance has received an approval to increase Borrowing Limits of the company up-to Rs 30 crore. The shareholders of the company at their meeting held on November 19, 2018, approved the same.Jumbo......

Top News

View all news

Jumbo Finance gets shareholders' nod to increase borrowing limits up to Rs 30 crore

Jumbo Finance has received an approval to increase Borrowing Limits of the company up-to Rs 30 crore. The shareholders of the company at their meeting held on November 19, 2018, approved the same.Jumbo......

Alembic Pharma gets USFDA's nod for Vardenafil Hydrochloride Orally Disintegrating Tablets

Alembic Pharmaceuticals has received an approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Vardenafil Hydrochloride Orally Disintegrating Tablets,......

SRF expects total Rs 28 crore quantum of damage due to Cyclone GAJA

SRF is expecting a total Rs 28 crore quantum of damage caused, based on the initial assessment. The disruption of operations was due to Cyclone GAJA at the plant of Technical Textiles Business (Viralimalai)......