New Delhi: Public sector lender Union Bank of India on Tuesday said it has raised Rs. 1,000 crore by issuing bonds on private placement basis.
Oriental Bank of Commerce (OBC) said it will raise over Rs. 178 crore by selling stake to LIC.
"Union Bank of India has issued 10,000 basel III compliant Tier II bonds of face value of Rs. 10 lakh each aggregating to Rs. 1,000 crore on private placement basis," it said in a filing on BSE.
The bonds, issued for a 10-year tenure, bears 8.61 per cent per annum of coupon rate.
The bonds are rated IND AA by India Rating, the bank said.
OBC, in its Extraordinary General Meeting, held on Tuesday said it will issue and allot 2,15,48,758 equity shares at an issue price of Rs. 82.79 aggregating to Rs. 178.40 crore to LIC on preferential basis.
.jpg)
