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Union Bank raises Rs200 cr through bonds

Union Bank raises Rs200 cr through bonds
PTI
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First Published: Fri, Sep 05 2008. 04 40 PM IST
Updated: Fri, Sep 05 2008. 04 40 PM IST
Mumbai: Public sector lender Union Bank of India today raised additional capital to the tune of Rs200 crore by issuing perpetual bonds.
The bond carry a coupon rate of 11.15%, which will be raised to 11.65% if the call option is not exercised, Union Bank informed the Bombay Stock Exchange.
Bonds have an option to redeem at par at the end of 10th year, it said.
Shares of Union Bank of India were trading at Rs153.25 down 1.67%.
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First Published: Fri, Sep 05 2008. 04 40 PM IST
More Topics: Union Bank | Bonds | Capital | Money Matters | Bonds |