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United Bank of India eyes Rs500 crore mop-up through Basel III bonds

LiveMint logoLiveMint 13-07-2017 PTI

New Delhi: Public lender United Bank of India (UBI) looks to raise up to Rs500 crore through issuance of Basel III compliant bonds on private placement basis.

“The board of directors of the bank... approved issuance and allotment of unsecured Basel III compliant, listed, tier-2 bonds in the form of promissory note... with or without greenshoe option, aggregating up to Rs500 crore on a private placement basis,” the bank said in a regulatory filing.

The stock was trading at Rs20, up 1.01%, from its previous close, on the BSE.

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